diff --git a/CHANGELOG.md b/CHANGELOG.md
index 48a114186..9972bea23 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -38,6 +38,7 @@ The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/).
 - Fix QSV audio sync
 - Fix QSV capability detection on Linux using non-drm displays (e.g. wayland)
 - Fix playlist filtering bug that made HLS Segmenter more likely to fail when streaming for multiple hours
+- Fix NVIDIA overlaying text subtitles and permanent watermark on 10-bit content
 
 ### Changed
 - Do not use graphics engine for single, permanent watermark
diff --git a/ErsatzTV.FFmpeg/Pipeline/NvidiaPipelineBuilder.cs b/ErsatzTV.FFmpeg/Pipeline/NvidiaPipelineBuilder.cs
index 5c4d19c86..3d657805c 100644
--- a/ErsatzTV.FFmpeg/Pipeline/NvidiaPipelineBuilder.cs
+++ b/ErsatzTV.FFmpeg/Pipeline/NvidiaPipelineBuilder.cs
@@ -281,8 +281,8 @@ public class NvidiaPipelineBuilder : SoftwarePipelineBuilder
             fontsFolder,
             subtitleOverlayFilterSteps);
 
-        // need to use software overlay with 10 bit primary content and graphics engine
-        if (currentState.FrameDataLocation is FrameDataLocation.Hardware && context.HasGraphicsEngine &&
+        // need to use software overlay with 10 bit primary content and graphics engine (or watermark)
+        if (currentState.FrameDataLocation is FrameDataLocation.Hardware && (context.HasGraphicsEngine || context.HasWatermark) &&
             currentState.BitDepth == 10)
         {
             var hardwareDownload = new CudaHardwareDownloadFilter(currentState.PixelFormat, None);