I'm going through some of the settings on a Nikon Z8, and one of the options when shooting raw is to switch the tone mode from SDR to HLG.
In principle, I understand what these two modes do: HLG offers better dynamic range for colours and brightness than SDR in a compressed image format. What I don't understand is whether or not this makes a difference when shooting raw, since as I understand it, 14-bit raw is always going to be 14-bit raw, and those 14 bits of colour information are (in this camera's case) a hardware limitation of the sensor.
In real life, the effect of toggling between these two tone modes is a change in how the live view image is displayed: HLG shows those trademark flat colours, highlights, and shadows often associated with similar video formats like N-Log.
Does HLG offer any benefits when shooting raw stills?