Pretty much standard with many cameras that have DRO options - underexpose by 1-2 stops and tonemap the shadows up in the SOOC JPEG. Since the raw image isn’t tonemapped, you see the original highlight-preserving underexposure.
There was recently some good discussion on DPReview on how to set Sonys up to have the in-camera highlight clipping warning be close to the RAW clipping threshold, I’ll try and dig that up.