Not sure what you mean by that. There is no "box" at the TV end for ANY modulated setup, if the TV has a tuner built-in. That is kind of the whole point.
[note]: Metra's modulated setup uses DVB-T modulation, so requires a tuner box at each TV. Also why it is so much cheaper.

Jimmy, have you use this product before?
I would certainly test this product myself, to make sure a HDCP signal would work. As they don't specifically say that it will. They only mention HDCP once in the literature and that look like a copy/paste about the HDMI input in general.