I have ended up creating my own Home Assistant plugin (vibe coded of course) to take the output of the lighting controllers and allow me to map them to Philips Hue bulbs in Home Assistant.
Rough overview:
Loxone Lighting Controller --> Analogue Memory Flag in Config --> Home Assistant (via pyloxone plugin) --> My new plugin that changes the Memory flag colour to Hue values and tells home assistant -> HA Hue Plugin -> Hue bulbs.
Seems to work fine for the circa 50 bulbs I have and works with the new Hue Bridge Pro apis.
Within the UI I can map the memory flags to the bulbs. I plan on extending to support Nanoleaf next.
If people want to use it I can publish it to HACS?