I´ve asked the manufacturer directly about the functionality. Unfortunately, i got t a pretty brief high level response.Maybe the "conversion" just maps the SDR signal to maybe 0-100 nits in HDR container, and that makes your TV to jump to brighter HDR mode? So all it is, is brighter.
If that is it, you could get the same effect with projectors by opening the iris/upping the laser power with no extra conversions.
After all, it seems as if it´s a functionality baked into the Realtek chip.
Would be nice to know what it actually does.