What kind of quality loss do you get from a decent HDMI->VGA converter compared to HDMI directly into a capture card, both going into a laptop running OBS?

And does converting HDMI to VGA always work in terms of HDCP stripping? I assume, due to the analogue hole, that it has to be possible. I hear there are problems with finding splitters to run a full digital/HDMI chain these days. What has been your experience with that?

(Mostly hypothetical as I'm disabled, unable to work, and don't even have a DVR/cable sub, but I like taking sports games to hospital appointments so I'm at least exploring my options. I could rejiggle my finances or use my parents' house if absolutely necessary.)

Thanks for any advice!