I tested my workflow and lost some hair when I noticed that the oldest messages in the converted .pst -> mbox do not re-export as a mailbox from Mail.app.
At first I suspected that there was something wrong in those 1998 message headers. Then I remembered that I had an old Emailchemy 13.0.4 license and used it to convert .pst to a) Apple Mail and b) also as a generic mbox. But they behaved the same as "Apple Mail" and "generic mbox" converted with PST Converter Pro: Mail.app imported all messages OK but silently ignored old messages when re-exporting.
...then I searched the net and found the old feature/bug that causes this:
macOS 12 Monterey Mail.app mailbox export size limit is still 2.15 GB!
Export Mailbox file size limit - Apple Community
I occasionally archive mail by just zipping ~Library/Mail folder. Mail.app then imports all even larger than 2.15 GB mailboxes OK.
But for some weird reason Mail.app can then export only up to 2.15 GB mailboxes so old messages are silently ignored!
BTW, remember to choose "Export all subfolders" option, if necessary!
https://www.macobserver.com/tips/quick-tip/macos-mail-archiving-messages/
If you want to export and archive such large mailboxes in some custom mailbox format, one workaround is to use Emailchemy to export ~Library/Mail folder.
https://weirdkid.com/emailchemy/
BTW Mail.app exports the mailboxes as *.mbox packages with "mbox" and "table_of_contents" files inside the package/folder. That "mbox" file seems to be identical with a plain generic "*.mbox" file but importing the latter does not seem to preserve custom mailbox names.