Originally Posted by Ronnie
Obviously, the 818 is decoding / unfolding fully [Stages 1, 2 and 3] for output to its ANALOG outs... just as it will always send a 24/96/192 stream to its internal DAC for output to its Analog outs, even when HS=off and it's only outputting a 1x [44/48k] stream to its Digital outs
With the caveat that it's not clear how an 818v3 could render anything above 192kHz, because stated spec of its analog output is 192kHz, as discussed here ?

Antipodes CX + Roon, 818v3, DSP 7200SEs, 218, DSP3200s