Just installed the update on my HM50 as per Joey's instructions and I now have TPM 2.0 enabled so this mini is now fully compatible with Microsoft's hardware requirements for Win11 so I can test it out and be prepared for when Win11 is released.
Thanks to Joey and Minisforum support/design staff for being so responsive to this issue.
Update 4 Jul 2021
I have the developers version of Win11 running in a dual-boot configuration. Had no problems at all installing it or running any app's (so far).