What is needed to turn a 28 1/2" draw into a 29" draw? Would it need a new module or would a string loop do the trick?

The SQ2 reuires a cam change to change the draw length to 29". The string loop won't change the draw or performance but may be all you need if it is simply that the draw length feels a little tight.

You could also try putting around 4 or 5 twist in the cable. It will lengthen the draw length and add a little poundage but you can back out the limbs if the poundage is too much. Lot cheaper than a new cam.

Mathews cams are inoperable. You can either buy a new cam for around $80, or add a loop to get a little more length.

If your local shop has any used bows with the right cam in it maybe they will swap them out. I just did that so my son can shoot my Q2XL and they charged me 2 dollars.

I would try the loop before you go to the expense of the cam.