To add a bit more colour:
It does not convert DV metadata to HDR10+ metadata (i.e. metadata as processed by the TV - because I understand that is not possible - HDR10+ cannot fully replicate what DV can do, so cannot do a reasonable conversion)
So as liquidion says, instead we can set a Dolby VSVDB Payload in the Ugoos “on behalf” of the TV (which does not have one as not a DV TV), using that Dolby VSVDB the Ugoos then does the DV processing on the player as low latency dolby vision.
DV-LL (low latency dolby vision), is just an HDR signal pre-baked with the DV applied (FEL, RPU etc.), but have a 2nd problem the Samsung would likely read that as SDR as it does not know about “DV-LL”, so instead that signal is marked as HDR - hence the name Player Led (HDR).
The key point is the video data being sent to the TV in both: Player Led (DV-LL) and Player Led (HDR) is identical (just some signal type metadata changing)
VS10 can be set to DV → HDR10 but I removed it from the UI (only option is DV → SDR) because for the Ugoos it does not work correctly, that is what sent me down the Dolby VSVDB route to get a DV → HDR10 solution working otherwise would not have done it 
- what we have now is a better solution with more capability.
Allows for things like:
- HDR10 → HDR10 to DV (VS10) → Player Led (HDR)
- Fine tuning of the Dolby VSVDB to match luminance of display and colour correction as needed for some projectors.
- HDR10+ → DV (Conversion) → Player Led (HDR) [For non-DV, non-HDR10+ displays / projectors]
- HDR10+ → DV (Conversion) → DV to SDR (VS10) - HDR10+ on your SDR display lol