I was thinking a similar solution that some better RAID cards have had for ages; for host OS it is just an i/o card with one or more logical discs. The card itself is run on an independent processor with its own ram that takes care of the RAID stripping etc.
As detailed up, a desktop computer you may think it's only CPU is the one you care of (a Xeon a i7 etc), there are numerous SLAVE subsystems that actually have their own dedicated CPU, just one as smaller as it need to be: Lan, Storage, RTC, TPM and any other smart controller has one or other kind of dedicated CPU or logic circuit offloading processing or functions otherwise will account on CPU cycles.
Apple's security enclave its an good example.
To put ARM processor just for TouchID would be a waste of a good CPU... So why not give it other tasks. It could be a full feature security processor with touchID, encryption and disc i/o all in one. IT could even compress files on the fly without consuming any time from main CPU. And because it would be OS independent, it would be difficult to hack.
In fact touchID on the iPhone relies on its very own CPU and is not the same as security enclave.
Not all ARM processors are aimed at complex devices, in fact most of them barely are processors, an good example it's the very popular maybe unknown Atmel SAM3X8E Cortex-M3 the one that powers every Arduino Due, yes that simple controllers runs on ARM, you have an ARM CPU in every flavor for every need from slave controllers (even clocks) to super computer hexascale clusters.