Warning - answer below might not be suitable for some readers.
Sounds to me like a parasite is the most likely evolutionary track. We can imagine a creature like Cymothoa exigua - but instead of an aquatic crustacean, this creature is an evolved pubic louse that takes up residence in a women's vagina and eats the sperm of any male that mates with her.
Evolution could favor a creature that was able to more closely mimic the vagina itself, or part there of, to better camouflage itself. Perhaps the creature evolves to produce secretions that would promote the male orgasm. Or it could produce pheromones, or stimulate its host to make pheromones that make her more attractive to males. Further, the creature could interrupt the hosts menstrual cycle to maximize its hosts sexual availability and its chances for a sperm meal. The creature could also stimulate hormone production in the host that made her sexual appetite ramp up and tended to make her seek out sexual partners.
While this is not a devil woman itself, the concept is pretty horrifying. If you've a strong stomach, just look at images of the Cymothoa exigua parasite on google, and then imagine the creature that evolves to fit the ecology above....I'm not sleeping tonight.
And, as described, a woman hosting this imaginary parasite would be sensual and powerfully attractive to males, while she herself would be sexually promiscuous. Any male having sex with this woman would experience an overwhelming orgasm.
And of course, we must expect that during sex, the parasite would transfer eggs or larva into the mans penis, which would spend part of their life cycle in the male and then transfer via his ejaculate to infect any healthy woman he has sex with.
And who knows what effects we can imagine for the infected male? Does he suffer a madness? A wasting? Other behavioral or physical changes that could be mistaken for demonic possession or infestation? The overall effects of infection, for both the male and female, might get us pretty close to the tales of the succubus from folklore.