This is a related but different technique called
HDRR. It uses internal HDR buffers, but the result are tone-mapped down to SDR with a bloom effect to simulate overbrightness. a HDR display could display a much larger brightness range natively, without the use of bloom.
Software developers need to change the output format and the way the tone-mapping works.
The number of bits only tell you the amount of steps, but not the range or distribution of said steps. HDR monitors have a peak brightness and use a transfer function called SMPTE.2084 (or HLG) instead of the "gamma" curves SDR monitors use.
HDR =
* 10 bit + panel
* High contrast panel (FALD LED LCD or OLED, some projectors)
* High peak brightness (>500 nits)
* SMPTE.2084 (for HDR10 and DolbyVision) and/or HLG transfer function support.
* Metadata support for tone-mapping.
* Usually also come with wide color gamut.
Nope, there are no consumer HDR monitors available right now.