Edit iPhone slow-mo videos on a PC with Sony Movie Studio or DaVinci Resolve

I use Sony Movie Studio Platinium 14 and DaVinci Resolve 16 to edit videos. I recently tried to edit a slow-mo clip shot on iPhone XR and found that neither of these applications could properly open and display them. These videos were encoded with H.265 or HEVC (High Efficiency Video Coding) and shot at 240fps. This high frame rate is actually what makes them slow-mo. When played back at a normal frame rate or 30fps they appear as slow motion.

After doing a few tests with Windows software I could get my hand on (Handbrake, etc), I couldn't find anything that would allow to convert them into something editable in Movie Studio or Resolve.

Inaccurate timeline seeking for videos encoded with Handbrake

 Handbrake Logo

Issue

Videos produced with Davinci Resolve (Cineform) and encoded to H.264 MP4 with Handbrake don't work properly with some video player (i.e. Media Player Classic). The issue occurs when seeking / skipping using timeline. Instead of jumping to the place clicked on the timeline, it starts playing several seconds earlier or later.

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