An MQA encoded file can be played back in four ways; with no decoding, software decoding, hardware decoding, and a combined software/hardware decode.
If you play back a 24-bit/192kHz MQA-encoded file using iTunes through a regular DAC (i.e. a non-MQA DAC), you will get a 24/48 file.
If you play back a 24-bit/192kHz MQA-encoded file through an MQA software decoder like Tidal HiFi, Audirvana, or (soon) Roon, and you are using a regular DAC (i.e. a non-MQA DAC), you will get a 24/96 file. A software decoder does not offer the ability to 'unfold' the original file to resolutions higher than 24/96 (or 24/88.2).
If you play back a 24-bit/192kHz MQA-encoded file through an MQA-enabled DAC, you will get a 24-bit/192kHz file. If you are also using a software decoder like Tidal HiFi, Audirvana, or (soon) Roon, you can have the software decoder perform the first 'unfold'.