Shotcut currently tops out at BT.709, and does not support any of the HDR modes. The HDR video would need to be converted to SDR first. Here’s a first pass using ffmpeg:
ffmpeg.exe -i Input.mp4 -vf zscale=t=linear:npl=100,format=gbrpf32le, zscale=p=bt709,tonemap=tonemap=hable:desat=0,zscale=t=bt709:m=bt709:r=tv, format=yuv420p -c:v libx264 -profile:v high -crf 18 -preset medium Output.mp4