UIImageView preferredImageDynamicRange not working

I am trying to display HDR Images (ProRAW) within UIImageView using preferredImageDynamicRange. This was shown in a 2023 WWDC Video

let imageView = UIImageView()
if #available(iOS 17.0, *) {
   self.imageView.preferredImageDynamicRange = UIImage.DynamicRange.high
}
self.imageView.clipsToBounds = true
self.imageView.isMultipleTouchEnabled = true
self.imageView.contentMode = .scaleAspectFit
self.photoScrollView.addSubview(self.imageView)

I pull the image from PHImageManager:

let options = PHImageRequestOptions()
options.deliveryMode = .highQualityFormat
options.isNetworkAccessAllowed = true

PHImageManager.default().requestImage(for: asset, targetSize: self.targetSize(), contentMode: .aspectFit, options: options, resultHandler: { image, info in 

     guard let image = image else {
         return
      }

     DispatchQueue.main.async {
                self.imageView.image =image
                if #available(iOS 17.0, *) {
                    self.imageView.preferredImageDynamicRange = UIImage.DynamicRange.high
                }
   }
}

Issue The image shows successfully, yet not in HDR mode (no bright specular highlights, as seen when the same image ((ProRAW) is pulled on the native camera app.

What am I missing here?