It certainly depends on your output requirements for delay and jitter, but is there a reason you wouldn't want to tackle this with your favorite low pin-count microcontroller?
If the timing requirements are lax enough, it could be done using timer peripherals, or even just pure software, in a single 3.3V powered chip with 5V tolerant inputs.
This is the deal. I am working on a home project, using an ESP32 running MicroPython. I have to decode this pulse stream which is intercepted from an odd radio remote. Because this is not one-wire, there is no driver available, so I have implemented a pin interrupt routine solution. The problem is that due to the fact that MP on the ESP32 runs over FreeRTOS, there is a lot of ISR latency uncertainty, at times a bit over 200uS, causing corruption.
I have many options. One is to move from Micropython to C, over FreeRTOS, but that makes developing the application rather hard. Two is to drop the ESP32, go to something else, but then I have to use an external piece for WIFI, adding a layer of complexity and tediousness to the development. There are few if any off the shelf boards with WIFI in the dimensions I need. Third is to add an external micro to handle the decoding of the stream, not the stretching, but again this adds a layer of complexity in the development, programing, etc.. Fourth, go to an STM32/WIFI MicroPython supported board. There is such a piece of hardware, high quality, over $50, made in Europe, not available here. I am exploring getting it, but things in the UK are not good right now. That board run MicroPython on bare metal, and interrupt handling is supposed to be quick.
Bottom line is that I rather put the effort on the higher application layer, GUI over iPhone.