Cant you use a hdmi switch or something?
That's going to be my suggestion as well.
A switch means that multiple HDMI devices can share that single HDMI monitor input. This is a much cheaper and much neater solution than trying to convert inputs.
I haven't personally used it, but
this switch or a similar product (a ton of small companies tend to resell the same model) should do the trick. In fact that switch is probably overkill, but best to grab something that's not immediately out of date with respect to format support.
I dont undertstand why this monitor only has one HDMI port while several of the new devices are HDMI and not dataport.
The short answer is two-fold.
1) It's a professional monitor, Dell isn't really expecting you to have a bunch of non-PC items hooked up to it.
2) At the time that monitor was released, the only version of HDMI available (1.4) couldn't do 4K@60Hz like DisplayPort could. So there was an expectation that if you're buying a 4K monitor, you'll want to use it with devices that can make full use of the monitor's then brand-new capabilities.
None the less, multiple HDMI ports are a lot more common these days because of your scenario, and the fact that HDMI 2.0 was released to catch up with DisplayPort.
Will the converter hurt the quality? Im also wandering what monitor settings would be best. Of course, they will be on two different inputs.
The HDMI switch listed above won't hurt the quality. As for monitor settings, I'm not familiar enough with that monitor to say for sure. But honestly I don't expect that it would require any fancy configuring.