When you get a new receiver, be sure it can handle DV or pass through HDMI 2.0a, and get certified HDMI cables...you can try any HDMI cable, but, if you have one not made to spec, it won't have the bandwidth to pass 4K w/HDR...if you have problems, first try a different cable....
Here is my set up - nothing special but it fits together quality-wise
TV is an LG 50" Plasma THX Certified 1080P
Receiver is an Onkyo TX-SR608 Feeding a Canton 5.1 surround system
400Mbps Downstream Internet distributed via an Asus RT-AC87U Router
...
On the ATV 3 I had Dolby Digital & Audio Output set to Auto, & automatically got the Dolby Digital Logo lighting up on the receiver (See more below)
Now with the 4K you get "Audio Output" "Audio Mode" & "Surround Sound"
Audio Output now relates to where the 4K sends the sound; I had the choice of the 4K, the ATV3, or any of my Wi-Fi connected speakers in other parts of the House
Audio Mode is the new name for what was called "Audio Output" on the ATV 3 - choice of Auto or fixed to 16 bit
Under Surround Sound you have
Best Quality Available
Dolby Digital 5.1
Stereo
At first I had it set to "Best Quality Available", but then noticed that I did not get the red Dolby Digital indicator either on the Film or the TV episode, although the sound was the same as if I set it to DD 5.1. On further reading, it turns out that on "certain" (read "older") receivers, the BQA setting will not activate the indicator even though you are actually getting DD 5.1 or 7.1 depending on your set up.
https://support.apple.com/en-us/HT204069
So overall I am very happy. Definitely a good step up from the ATV 3 in many respects, & I'm all set for when I get a 4K OLED later this year along with a new Receiver.
If I can help in any way with any questions, happy to!
Surround Sound: What is happening is (at this point in time), with "Best Quality Available" (same as what was called "Auto"), you should be seeing "LPCM multichannel" on your receiver, as, what apple does is take the DD or DD+ audio, mix it with the system sounds, then outputs it as LPCM. So, to take advantage of the DD+ audio, when available, you'll want to put it on "Best Quality Available", (Dolby Digital Plus is a slightly better version of Dolby Digital). ...When you set it to "Dolby Digital 5.1" the ATV is down mixing to DD5.1. So, that being said, you'll want to set your audio output to 4K so that the higher quality audio is sent directly to your receiver through the HDMI cable. See also: #107