Using THETA UVC FullHD Blender with HDMI output from Theta S

I have a Theta S located a long distance from my broadcast computer. I had planned to use the HDMI connection from the Theta to an HDMI capture card on my computer, and then use UVC FullHD Blender to convert the dual fisheye image to equirectangular for broadcast. From my experimentation, it appears that the Blender software only works with a low-res USB connection to the camera, is this correct?