Technical/niche questions about Live Gamer Ultra 2.1

1. when recording HDR, is the output file using HDR codec (some variant of rec.2020) or is it SDR

I've been reading complaints that u need to adjust contrast and stuff so idk if it's doing conversion on the fly and output in SDR codec or can I can edit the output video with real HDR data on it

2. anyone tried if this works with usb-c to HDMI and still get 4k120hz passthru? I've read something on the specification where it suggest to not use DSC. But I think all modes of usb-c to (HDMI/dp) alt mode uses DSC.

Thank you