Hardware signing devices have lots of utility because they keep the key from ever being on the machine (which is more likely to be compomised). Think ledger or trezor for your Bitcoin. Hardware encryption devices are just really expensive and black-box ways to avoid Veracrypt.
If your encryption algorithm is secure, you have no use for automatic lock-out. If it's not, automatic lockout won't do much against an attacker with physical access to the device. Unless they are dumb enough to trigger the lockout AND the internal memory wipes itself sufficiently well AND/OR the attacker doesn't have the resources to reverse engineer the device.