https://www.powerlineblog.com/archives/2021/01/deep-meaning-of-equity.php
Definitely worth following the link, and for the video oriented, viewing the embedded video there.
The very short answer is "equity" is shorthand for "equality of outcome", or even more accurately "social justice" as defined by critical race theorist Ibram X. Kendi. If you have any questions, you are a racist, and if you even want to be silent on the issue, remember, "Silence Is Violence", you MUST celebrate whatever Susan Rice tells you on the topic!
“Equity” is not equality (i.e., equal rights). It is a substitute for equal rights. “Equity” requires the authorities to determine who gets what according to the race, the ethnicity, or other status of the beneficiaries. It is updated Marxist claptrap in which race replace class.
Ie, "Identity Politics".