The idea of an adaptive quiz is a great one, but as you know that is currently not an option in either New Quizzes or Classic Quizzes. The number of questions required in leveled difficulty question/item banks, would make this sort of behavior immensely complex for instructors to be able to develop quizzes that would function adaptively. These sort of assessments typically require the resources and expertise of curriculum developers or publishers to create and are out of reach for most instructors.
Canvas does provide this sort of "adaptive" functionality through the Mastery Paths that can be created in Modules. Many instructors develop Mastery Paths to adapt the learning experience to the learner. For example, all students can start with a pre-assessment that determines their "level" on a topic. Then based on their performance on the pre-assessment, different learning activities, assignments, and resources can be assigned to the students by the Mastery Path. More on Mastery Paths can be seen in the guides below:
Mastery Paths (Instructors)
How do I use Mastery Paths in course modules?