Does the Bolt have video format conversion on the transmitter loop out (SDI/HDMI in to SDI out)?

There is no physical video format conversion on the Bolt transmitter's SDI loop out.

The same video format that comes in to the TX over HDMI or SDI will be sent on the looped SDI output on the transmitter.

However, there is video format conversion possible between the TX and RX by using the video format scaler on the Bolt receiver's output options.

This is possible on 2nd and 3rd generation Bolts, as well as the Bolt 4K and 4K LT series.