I am not 100% sure how to work with HDR photos. An HDR photo is not a normally exposed photo. So, I am thinking that unless you have selected "Keep normal Photo" in your iPhone camera settings then turning off the HDR would just affect future photos. I don't think that exporting it in a different format would undo the HDR, since it has been exposed in a certain way. At least, that's the way I believe it works. You could try it and see. As an experiment, put the HDR photo into the Photos for Mac app and export it as a JPEG and then import it into iMovie. See if that cures the problem.
Another experiment you could try in order to remove the HDR would be to change the photo into a video. You could do that by putting it into the Photos for Mac app and then placing the photo into a one-photo slide show that you could export as a video file to your desktop. Then import the slideshow into iMovie. It will display as a photo. You can change the duration by changing the speed like you would for any video.
If you try the above procedures, would you report back as to your findings? It may help others who are dealing with the HDR issue.
-- Rich