This is a really interesting question! I'll try to give some pointers to some possible answers.
One more general question you might ask is
What equivalence relations have constructive quotients?
Namely: given a type $A$ and a decidable equivalence relation $\sim$ over it, can we construct a type $\overline{A}$ and functions
$$ ||\cdot|| : A \rightarrow \overline{A}$$
and
$$ \mathrm{lift} : \overline{A} \rightarrow A$$
such that
$$ a \sim b \Rightarrow ||a|| =_{\beta\eta} ||b||$$
and
$$ ||\mathrm{lift}(a)|| =_{\beta\eta} a$$
for every $a$, $b$ of the appropriate types. One may also want the equalities to hold on open terms.
In the more general case, beyond $\beta\eta$, it is known that there are examples of (decidable!) equational systems which do not admit completion, that is that it is impossible to turn them into rewrite systems which are confluent and terminating (as is $\beta\eta$).
This suggests that there may be some decidable $\sim$ that do not admit such a nice embedding. What of the specific case you mention, where $A$ is the "free semiring" and $\sim$ is the corresponding equational theory?
Well here we do run into problems with commutativity: if we had such a $||\cdot||$ working on open terms, then any $t = ||x + y||$ needs to contain both $||x||$ and $||y||$ somehow (and therefore $x$ and $y$ themselves), and $||y + x|| = t[y/x, x/y] = t$, but this is not possible, because the position of $x$ in $t$ must be different from the position of $y$ in $t$!
Note that this argument completely disintegrates on closed terms, and for good reason.
A common solution is to use reflection to turn a term into a syntactic form that does not actually contain variables (they are replaced with, say integers which can be computed with), and in the case where $\sim$ is decidable on closed terms, compute a function which returns the appropriate $\mathrm{bool}$! And hey this is what the ring
tactic does in Coq!
It's worth noting that there is a class of problems which admit nice embeddings for which you get the appropriate computational equalities: e.g. free monoids over finite (decidable) sets. This subject is the matter of Normalization by Evaluation, for which there is extensive literature.