Suggestion: Divide and conquer. Separate the video and audio troubleshooting.
Audio
The AVR550 manual makes no mention of HDMI-eARC capability, only HDMI-ARC. The manual I found online for the Q90R only said “some models may support eARC.”
Assuming I’m reading the manuals correctly, then for lossless audio - dts-HD MA, dts:X, TrueHD, TrueHD + Atmos - the Shield must be connected to the AVR550, not to the TV. HDMI-ARC does not have the bandwidth to carry those audio formats.
Connect the Shield to a HDMI input on the AVR550. Play a standard Blu-ray rip, 1080p, no HDR, subtitles off, with TrueHD or dts-HD MA audio. That should direct play, both video and audio (you might even try Dolby Digital 5.1 or dts 5.1 just to make sure they work OK as well).
On my 2015 Shield Pro, the choices in the Plex app for audio passthrough are HDMI, Optical, and Disabled. The only one that supports lossless audio passthrough is HDMI. Disabled forces everything to PCM. It sounds like an Auto setting is also available in the 2019 version.
The Auto setting I referenced is a Shield, not Plex setting. The default is Auto, but it never hurts to double check.
Once you get the audio working, you can start on the video side of things.
Video:
Unfortunately, I don’t think I can be of much help, as I’ve a different TV, and the 2019 Shield has several options, such as AI upscaling, that my 2015 model does not.
You might try connecting the Shield directly to the TV and playing a HDR video with a Dolby Digital audio stream (which direct plays on a Samsung). Once you get that working to your satisfaction, then move the Shield back to the AVR, play the same video, and see what happens.
FWIW, my LG had some “deep color” and similar settings that were off by default. I had to dig through the menus to find them to get HDR playback working correctly. The settings were per-HDMI input, not global, so I had to make sure I changed things on the HDMI interface connected to my Denon receiver.
I also disabled all the “motion control” and other TV settings that results in the “soap opera effect.” With that enabled, the picture, no matter the source, looked like the south end of a north bound mule (IMHO anyway).
I scanned the Q90R online manual, but it was pretty thin on specific settings, so I don’t know if any of this applies to your setup.
Good luck with the troubleshooting.