Earlier quoted context omitted.
Not well. If you only care about file playback, bit still care about things like HDR and quality audio I would recommend something like the OSMC Vero V instead. It's still relatively cheap, and open source, but also let's you playback something like a blu-ray rip without loss of quality. It has the other bonus of not requiring any real setup or maintenance.
GBM/DRM Kodi supports HDR video on the Orange Pi 5 family. You can grab whatever audio from HDMI or plug whatever in the usb port, the only advantage of this Vero is the optical out.
On most devices Dolby Vision, etc get downgraded or support only the streaming profiles (profile 5) . If you want full Atmos, Dolby Vision, etc you have to buy one of only a handful of devices. The Vero V is one of them. There are only a few others.