Great to see other affordable solutions are now starting to pop up.
About a week after making this post I found this solution:
Thanks for the suggestion. Sadly that is a little more than the budget for a one off project, and I doubt the student wants to pay for it. I have however found the following item that appears to do exactly what I need for a far more reasonable price, just in case someone else is trying to do this.
https://www.amazon.com/EZCOO-HDMI-Splitter-1x2-60Hz/dp/B078YRDZKJ/ref=sr_1_5?s=electronics&ie=UTF8&qid=1537521978&sr=1-5&keywords=HDMI+scaler
Here is what I got to accomplish what you are looking for: https://www.amazon.com/dp/B078YRDZKJ/ref=cm_sw_r_cp_api_i_NbE9Ab76NT46N
I play in 4k and it downscal the other output to 1080p which is fed into my Razer Ripsaw. Works great. I sometimes have to unplug the power to allow it to renegotiate (or whatever it does) the 4k signal then plug it back in but other than that no issues.