I doubt if it will. There are no acids, sterols or anything else that can affect the Candida. The DE consists primarily of silica (80%) with the remainder being metal oxides and moisture.
Maybe the people claiming that DE helps Candida are confusing the silica from DE with the silica in insoluble fibers. In soluble fibers contain silica, but unlike DE the fibers contain fermentable carbohydrates that our flora use to produce acids that control Candida.