"Optimize" and HDR content

Hello! (I’m really sorry if this has already been answered, but I’m not a power user.)

If I use “optimize” on a file using the “original” or “Television” setting, will any HDR (personal backups of UHD Blu-Rays) content be tone mapped with the selected algorithm?

More context: my setup is “software encoding/decoding” only.

I’m trying to come up with a simple way to tone map some of my “4K disc only" movies.

Thanks!