It’s not like the conductor just says “okay, play Canon in D” and calls it quits. She actively participates in the performance and creation of the end work. And different conductors can absolutely yield different versions of the exact same arrangement. They’re as much a performer as any of the instrumentalists.
So yes, they get royalties like the other performers.
A conductor has control over the tempo and cadence of the entire piece. They can choose to pause the entire performance on the spot and then resume right where they left off. They may adjust sections to play louder or quieter based on weather and acoustics.
And that's all during performance. There's work needing in at the bare minimum arranging pieces based on the band.
But roughly speaking: writing music is an art, which is different from ochaestrating an ensemble in real time taking into account conditions for the audio. The author of the piece isn't always the orchestrator, and arrangements are another matter entirely .