I redeemed Dunkirk on MoviesAnywhere and it shows up on my Apple TV 4K as 4K DV. However, when I play it on my LG 4K TV the Dolby Vision picture mode is not activated or showing. Any ideas?
Without wading through all the details we would need, what the other reply is pointing to is that depending on where the code came from that you redeemed, it will most likely be limited to only HD and not 4k playback despite being shown as 4k DV in your library. If the code came from a blu ray movie, it would only redeem as HD when MA syncs up to iTunes. If it came from a UHD blu ray, it may redeem as 4K in iTunes.
If you ever have the chance, redeem in iTunes directly as Apple has been good about upgrading HD movies to 4K, but it doesn't work if those movies are syncing from other services like MA, VUDU, Google, and Amazon.