There is a long Holo Red thread on the PS Audio forums under the network section, including some users with the PS Audio MK I DAC. That might be really helpful for your setup.
Holo Red Streamer
I placed my order and paid for it on February 22, 2023; it finally arrived today in my building in NYC. Apparently they are backlogged in a major way.
Their manual is not user friendly to walk through starting it up. Greek to me on their TFT card and finding the IP address and whether I have to do that first. I can connect my Ethernet cable from my router to the Holo Red and then to run an AES/EBU cable from the Holo Red to my PS Audio Mk I DAC, but what else must I do to get going? I now use MConnect for Tidal and use the streamer card I installed in the DAC.
If anyone has experience with the Holo Red streamer, I could use the advice to start up operating it so I don't grind my teeth and pull out my remaining hair. Thank you. Neal