I did some testing this evening. I started with my ATV4K Gen 1 (tvOS 15.3) on a wired connection and played a complete episode of Drive to Survive without any Atmos dropouts. No surprise there, as I have never had an Atmos dropout on my Gen 1. I just thought I should test it on the most problematic 4K 50Hz Atmos program I know of.
I then tested the Gen 2 (tvOS 15.5 latest beta) on Wi-Fi (about 340 Mbps per Speedtest on the ATV4K), and had one dropout at 26 minutes into S01E01 of Drive to Survive. I then switched back to a wired connection (about 700 Mbps per Speedtest on the ATV4K) and got lots of dropouts starting within the first minute. Odd that Wi-Fi seems a lot less susceptible to the dropouts. Can't blame it on the Ethernet hardware, though, since it does happen on Wi-Fi.
I then tried limiting the bandwidth to the ATV4K Gen 2 (still on wired) but it didn't work on my router. It kept bouncing between 0 Mbps and 50 Mbps. And yes, I did click "Apply".
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Drive to Survive isn't available to stream in DV. If the program were in DV, you shouldn't lose the HDR/DV with a modest drop in bandwidth. Streaming is designed to dynamically switch between different bandwidth streams as network conditions change. Like when you start a stream, you often see it start at a lower quality, but it ramps up quickly if you have a fast internet connection.
By the way, the ATV4K doesn't upscale to DV. It does upscale to 4K. It is recommended to turn Match Frame Rate and Match Dynamic Range ON. I believe you said you have them both OFF. Turning these settings ON is like the video equivalent to sending bitstream audio to your AVR and letting the AVR do what it does best, rather than having the ATV4K decode the audio. The only downside is the TV screen will briefly turn black while it syncs to the native frame rate and dynamic range, but that is a small price to pay for better picture quality.