It wouldn’t be HDMI 2.1 because it couldn’t be certified. And if you claimed it was 2.1 I imagine they would sue you.
Could it actually be made? I kind of wonder that. Like if one of the things you have to do is claim to the other device that you’re 2.1 would that get you in trouble? Or if you just advertise all the features and they each work is that good enough?