DNG Converter are converted files intact with keywords, etc. in the LR Catalog?

Now that Adobe has moved the DNG converter out of LR Classic… 

In my LR Classic catalog containing over 100,000 images I have thousands of CR3 images that now apparently may need to be converted to DNG’s.

If I run the DNG Converter app on CR3 images already in my LR catalog, do the converted files replace the original CR3’s in LR and retain the keywords and LR processing history, etc. as it used to when the DNG conversion was integrated in LR?

Or… Does the DNG Converter just blithely convert the CR3’s to DNG’s obliterating the keywords and history and requiring them to be re-imported as new files?

I’ve been unable to find an explanation.