While this is just my opinion, it is based on extensive experience killing deer with more calibers than I can remember including prb from muzzleloaders. Included, here, is the fact that I've also had experience in the effectiveness of trauma applied to bodily systems. I'm not remotely an expert.
For the most part (or all of it) I consider hydrostatic shock, energy dumping, dwell time, etc, to be balderdash. Any applications would be rare and very specific and out of the province of ML hunters in particular. Deer can be killed, like anything else, by blood loss, nervous system failure and massive internal injury resulting in multiple systems failure.
How these effect death are constrained by condition of the animal, whether inhaling or exhaling when shot (probably a major factor), oxygenation levels, psychological (yes) factors, adrenalin levels, hormone levels, time of day, moon phases, curses and mojos, etc. A prb kills simply by causing internal trauma as it does in other creatures including man. I've had them drop in their footie prints from a double lung shot and have had them run a few yards without a heart. I have had them drop in their tracks from such massive blood loss that the brain - not quite oxygenated enough - was deprived of ANY oxygen so abruptly it basically caused them to faint seconds before brain death.
In short, forget gimmicks and theories. Multiple organ failure kills and kills quickly. This is easily accomplished with a prb that can make it through the vitals regardless of velocity. Energy doesn't kill them, and neither is it "wasted" if it goes all the way through. Prb doesn't "dump" anything unless it's the game. The only "shock" is when they wake up in your smoker. HS is a myth with no home. Repeat after me; "ball exits barrel, hits deer, goes through the vitals, deer drops DRT or a bit later depending on your aim". Clean deer and go home.