As I've said in previous posts, there is a lot more noticeable banding when sending "12-bit" to current-gen TVs compared to 10bit. Regardless of madVR or standalone UHD-players. So padded zeros or not - the result is more banding.
For example check out threads regarding Panasonics UB700/900 players - people were getting banding until Pana released new firmware enabling 10bit.
I myself got a lot less banding outputting 10bit from AMD compared to nvidias 12bit (Samsung JS9505).
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HTPC: Samsung 65JS9505, Yamaha A2070, Sonus Faber, RX580
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