On my iPhone I can hold down on a key on the keyboard and than dragging can be used to control the location of the cursor. This makes editing text go from intolerable to doable.
I just got a new iPad Pro. The same feature does not work. Presumably because of a lack of force touch? Well, this makes text editing totally unbearable. Is there a way to control the cursor in a similar way on iPad?
Place two fingers on the keyboard and drag the two fingers around to move the cursor.
On iPhone, you don't hold a specific key — the action is initiated with 3D Touch anywhere on the keyboard with one finger. As you mentioned, iPad does not currently have 3D Touch, but you can use two fingers to manipulate the cursor like you did on your iPhone with one finger. The iPhone functionality came after the iPad keyboard cursor trackpad was implemented.