Earlier quoted context omitted.
The point isn’t to store keys in the TPM. The point is to ensure you’re running an unmolested version of Windows that will enforce whatever security controls the DRM maker wants to have. Part of that is things like: * Don’t load an unsigned (or wrongly-signed) GPU driver, because it might be modified to allow a user to read from framebuffer memory after content has been decrypted.
All this effort for nothing making life difficult for the end-user. Physical video splitters are a thing. They are asked to respect HDCP, but they don't have to. It's how streamers are able to play a game on their monitor while also streaming the video of them playing the game.
I imagine that the MPAA et. al. are planning to attack the splitter thingy one day, so they’ll want to make sure you can’t slurp the frame buffer when that avenue is gone.