The FS5 (with V4.0 firmware) offers three HLG Gamma curves. One curve is defined by the standard and the other two are variants designed to help in lower light environments where noise might otherwise be a problem. Some grading is required when these are used.
Ollie had some material he had prepared earlier and showed this on the professional monitor so we could see the difference between SDR (standard dynamic range) and HDR pictures. The clips intended to show high saturation looked really good.
The audience asked whether or when the FS7 would support HLG. As Sony had made no such announcement it was not possible to give an answer for this. Of course in post you will be able to create HLG content.
The Instant HDR concept should be great for News Shooters. You could film your assignment and then get it straight to the studio and have it broadcast in HDR. Given that the BBC are behind HLG it would make a lot of sense for them to pioneer the technology and so drag the rest of the UK broadcast community with them. Of course the BBC is a nest of committees so nobody is sure when or whether they will do this.
This is a Sony focussed event, other vendors may will cover the same problem set.
Sony also have other products that can support HDR and even HLG (the PXW Z150).