You CAN change your network name.. so if your wifi network ssid is "HomeNetwork" you can change it to "HomeNetwork_optout" and the system will ignore those. I think you can also do that to have some of the services that index wifi router locations (to help aid in "GPS" navigation, actually) to tell those services not to index your location as well. But I don't see the need for anyone to rename their wifi ssid if they don't want to. It's kind of a hacky solution that I wouldn't call ideal.
Anyway, for now this feature is only Windows 10 devices but Microsoft has been doing a lot with putting their services on competing systems (Mac, Android, iOS, etc) so I wouldn't doubt this feature would be an app you could add to Android but I doubt anyone is going to include it by default on any Android device unless they have a hefty licensing deal that includes a bunch of Microsoft services (Bing search, MS Office, etc) pre installed... which most won't bother with.