Why is the dynamic range clamped when outputting to 16bit format

Hi,

when I'm editing my NEF RAW files in Capture One Pro 23 I really love how the dynamic range is preserved in the highlights and shadows. In rare cases I need to do some complex retouches and compositings that cannot be achieved in Capture One. Then I "roundtrip" to an external editor like Photoshop or Affinity Photo and output the preprocessed NEF as a 16bit Tiff in Adobe RGB (1998) colorspace in order to preserve the entire dynamic range of the RAW. When I open that file in the external editor I noticed that the highlights and shadows are clamped when I make adjustments to these, they totally behave differently from what happens in Capture One with the NEF RAW. Is it possible to export in a format that will not clip/clamp highlights and shadows for further editing?

Thanks for any help on this in advance!
kind regards
Marcin