New version of DNG2Monochrome generates washed out files

I have used a previous version of this program with great satisfaction in converting my Sony A7RII (M) files. But on 9/8/18 I installed the latest version. Now the output files are washed out, with very little contrast (see sample above). The original  ARW files converted to DNG and then  to BW in PS do not show any problem; they have dark blacks and bright whites.
Am I doing something wrong? Or is there a defect in the latest version of this program?

Dear Sir:

Please check that you have enabled black level subtraction in Monochrome2DNG Preferences.

Monochrome2DNG application is for the cameras that are converted to monochrome by removing CFA. If only the IR filter is removed, but the CFA is in place, all bets using Monochrome2DNG are off.

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