HBR3 maximum data rate is 25.92 Gbit/s, which is a physical bit rate of 32.4 Gbit/s.
Requirement for 2560×1440 at 240 Hz 10 bpc is 30.77 Gbit/s data rate, which becomes 38.46 Gbit/s bit rate in HBR3 transmission. So it would be outside the limit.
But you are comparing the data rate requirement of one against the bit rate limit of the other, which is incorrect
If the monitor only supports HBR3, then either it uses DSC, or does not allow 240 Hz and 10 bpc simultaneously. In either case only HBR3 rated cable is needed, anyway.