Path of Exile has it, and I’ve found it very useful in sorting of stuff and finding it. Just type a search word (or words) and all items matching the input word(s) are highlighted to player and everything else greyed out.
At the moment, there is not such feature, which I find quite annoying. I have dozens of useless rings and amulets that reserve important slots in my inventory. For example, if I wanted to highlight all items with any kind of resistance or damage feature, I’d have to sort them one by one which is time consuming and affects negatively to my motivation to play the game overall.
Are you guys planning to implement such feature in the future?
And no, I’m not asking that this filter feature should affect to the selection of an item (i.e. only highlighted items could be selected), it should be just a visual hint.