Both my analogue, stand alone SWR meters have a switch for PEP.
Both meters show less than half of the correct PEP level and somewhat more with RF compression on.
Thus we depend on the rig giving 20w PEP if the power level is set to 20watts on continuous carrier tune up.
Picswr, connected my simple conventional SWR bridge behaves like my analog meters on SSB.
The only meter that I have that shows PEP is the LED power level display built into my ACOM 1010 linear amplifier. With this, if I adjust PicAStar drive for 100w continuous and then switch to SSB, I get the 100w LED just flashing.
Future development of an alternative or modified SWR bridge may achieve a similar performance for Picswr. .... All contributions welcome !!!