Magewell Ultra Encode User Manual, Reference And Faq page 39

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Set Input
Color format: input video color format. Check the box to select other
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options, including RGB, YUV BT.601, YUV BT.709, YUV BT.2020.
Quantization: input quantization range. Check the box to select other
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options, including Full range(0-255), Limited range(16-235).
Set Output
Color format: check the box to select other options, including YUV BT.601,
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YUV BT.709.
Quantization: check the box to select other options, including Full range(0-
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255), Limited range(16-235).
Saturation: check the box to select other options, including Full range(0-
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255), Limited range(16-235), Extended GAMUT range(1-254).