There is a subtle "trick" going on under the covers here. When you create a AVAudioUnitTimePitch AU, what you get back is the kAudioUnitSubType_NewTimePitch audio unit, this is the same AU that is used when someone selects the kAudioQueueTimePitchAlgorithm_Spectral TimePitchAlgorithm property in the AudioQueue and as you correctly point out, equates to AVAudioTimePitchAlgorithmSpectral for AVPlayer.
If you would like to use a different time effect, for example the kAudioUnitSubType_AUiPodTimeOther or if you're on iOS the kAudioUnitSubType_AUiPodTime -- you can do so by creating an AVAudioUnitTimeEffect using the initWithAudioComponentDescription:(AudioComponentDescription)audioComponentDescription method.
Just pass in a AudioComponentDescription for the kAudioUnitType_FormatConverter type + SubType etc. and you have an object that can be used with AVAudioEngine wrapping the Audio Unit of your choice underneath. See AUComponents.h for a list of SubTypes.