USE THIS:
https://www.amazon.com/Extractor-Converter-Support-Digital-Coaxial/dp/B0919Y12B3
The HDMI to composite adapter is completely wrong.
The $400 Emotiva piece is nice, but is another large component which really doesn't do anything more than what the $25 ARC audio extractor with volume control passthrough piece does.
I certainly would spend $25 with a good return policy over a $400 product if all I needed was to pass analog audio to a couple of speakers.
@BoredSysAdmin - Do you see any reason why a HDMI ARC w/volume pass through DAC wouldn't work properly?
CONNECTIONS:
HDMI(ARC) TV --> HDMI of DAC
RCA (DAC) Left/Right RCA --> Audioengine A5+ Speaker #1 RCA Input
Audioengine A5+ Speaker #1 Speaker Output --> Audioengine A5+ Speaker #2 Speaker Input
Audioengine A5+ Speaker #1 RCA Output --> Audioengine Subwoofer Input
This is exactly how I would do it, the DAC hides behind the TV or is easily slipped into the system, and volume is controlled by the TV remote easily.