I may be wrong here but from what i understand the wireless link is limited in bandwidth to 10gbps so can do 4K but not with HDR at the same time.
Movies (except gemini man) are 4K/23/HDR. Why wouldn't you be able to do that over 10gbps?
9400 is amazing. You are in for a treat. Get MADVR to tonemap the HDR for you to BT2020 for films and TV shows.
That’s why I said I could be wrong, that would work yes.
Though I suppose it depends on what you’re connecting it to, would a PS5 for Blu-ray work as the dashboard is in 4K HDR isn’t it (maybe with a refresh rate higher than 30hz).