Conversion is a very intricate spec fulfilment over an incredibly high bandwidth signal.
I did the dive; The adapters are not sufficient.
The Chrontel CH7218 is the most reliable but still also suffers blackouts during VRR.
ParadeTech PS196 adapters advertise VRR support but their DPCD does not correctly communicate that it is supported. So even if you add the chip to the VRR PCON list in the amdgpu driver, it still won't see VRR as supported.
And while some of these advertise themselves as displayport 2.0, all of them only support bandwidth of 25.96gbps on the displayport side, requiring DSC for 4k 120hz 10bit color, even though they support 48gbps on the HDMI output.
When doing 4k@120fps 4:4:4 chroma you might have to deal with longer handshakes and sometimes even no handshake at all. Or random dropouts. Or HDR not activating properly.
Random dropouts tho sound bad… with high speed signaling also sounds like a pain to figure out