Not a native English speaker, but my understanding is that the word "equity" is now used specifically to mean "equality of outcome", which is incompatible with giving everyone an equal chance. I found an article[0] explaining the difference:

>Equality means each individual or group of people is given the same resources or opportunities. Equity recognizes that each person has different circumstances and allocates the exact resources and opportunities needed to reach an equal outcome.

[0] https://onlinepublichealth.gwu.edu/resources/equity-vs-equal...