Most companies making EPD products use the base OS provided by their SoC vendor. Based on your spec which says 1GHz ARM A9 , I'm guessing you're using the NXP (formerly Freescale, now Qualcomm) i.mx6 SoloLite since that's the only 1GHz ARM A9 with an EPDC controller on the market. Freescale gives you a Linux EPD and an Android EPD Linux BSP, both of which use the same epdc driver with pretty much the same latency which is definitely pretty high, much higher than 55ms for sure.
> EPD is designed by e ink based on our requirements, e. g. the size and high DPI
Are you claiming that E Ink manufactured a custom 10.3" panel just for you?