interestingly enough, a HDR10 encoded media played on a non-HDR10 capable display on Firetv stick plays okay. so it’s RPi4 limitation?
The HDR colour space is much larger than SDR, so there's no perfect way to do this, but tonemapping is an algorithm that squashes the range down in a way that looks okay. I suspect the Firetv stick has hardware support for this, but the Pi doesn't.