I don’t have an HDR monitor yet, but I have already downloaded a collection of 10Bit HDR movies. Whenever I try to watch them on my monitor using VLC / MPC, though they would play them, the colors looked washed out.
To get MPC-HC to handle the HDR metadata correctly, I had to install MAD VR. Extract the madVR files somewhere, and run the install.bat as administrator. After that you can open madVR settings by running MadHcCtrl. It runs a program in your system tray, right click on it and choose “Edit madvr settings”.
Under devices, you should see your screen listed, click on the arrow next to it, you should see “identification”, “properties”, “calibration”, etc, with “hdr” at the bottom. Because I’m using a non-HDR display, I had to use one of the convert options, but for your HDR display, I’d imagine “passthrough HDR content to the display” is what you’re looking for.
Finally, in MPC-HC itself, right click in the program and choose “Options”. Under “Playback” > “Output” Change DirectShow Video” to “madVR”.
That’s all I had to do to get HDR processed for display on my SDR monitor, and it’s been working great so far. Above image shows the difference before and after. I’ve read as you have about the LAV filters, but I haven’t had to use them myself yet. Hope this helps you to watch HDR content on your SDR monitors with better colors.