The Apple TV doesn't support DV profile 7 (you just get the HDR base layer; you lose the enhancement layer), nor does it support TrueHD Atmos (you get the bed channels but lose height channels). Same for DTS:X.

Whether or not this matters or you notice will depend on the specific Blu-ray and whether you have a Dolby Atmos capable sound system.

https://community.firecore.com/t/dolby-vision-profile-7-8-su...

https://community.firecore.com/t/help-get-more-dolby-atmos-o...

https://old.reddit.com/r/appletv/comments/1789et4/does_infus...