Are you saying Ultimate has AppLocker? I have it in 3 machines, and no AppLocker.
Yes, it has it. It's always there and no need to install anything else. Just open local policy and you'll find it. It's disabled by default, though.
You'll also find that all 7's feature list include AppLocker in the Ultimate column.
I think that Applocker will work with Ultimate, (which is a general sales version of The Enterprise version of Win 7)
Of course you have to have the "other Parts" of the bitlocker system running on a server to use the functionality, It may show up on the Add Remove features list, but not looked at a copy of 7 Ultimate for a long while
BitLocker and AppLocker are completely independient things and neither requires the other. BitLocker is a full-disk encryption system, and AppLocker is a policy-based program lockup system. They work on their own. Neither require installation from the features list, both are included and always there, ready to be activated whenever you want.
One interesting thing on the alleged Bloat of Windows 10 ... a fresh un-patched copy of Windows 7 is actually noticeably larger than a fully patched version of the later versions of Windows 10 - not that much bloat there
I still have to see that

Every single (original) disk I've seen Win10 is larger than 7, as they are in their clean install states. Not by a large amount, but still larger.
Not that it matters that much, bloat is not solely measured by disk size, but by built-in things, their relative usefulness and programs running, for example. A good metric is to see how easy is to use the system and not to clash into unwanted things. 7 has many basic utilities, but 10 has tons of other things like games, and more insultings, spam on the start menu! Two control panels, a tablet-based UI on a computer, more services permanently stealing data and publishing it to Microsoft, automated, unstopable updates that are known to break computers.
Add all that and then Win10 becomes much more bloated than 7.