that sizzling sound usually hints towards a voltage(buck) converter not being able to sustain voltage. I’d assume that this isnt per se an HDMI Issue, especially when the adapter was completely passive as you said. Sounds more like a capacitor burned in the voltage converter or maybe a defect coil.
Check for visibly defective inductors and capacitors. I do not have my rock 5 b here(its at the office) and I actually havent looked too closely at the board, but from the pictures on the radxa wiki I would say the power conversion happens in the middle of the triangle between the actual soc, the e-key m.2 and the gpio header. theres a square chip surrounded by 3 inductors and 6 caps - check these for visible damage first. The actual smoke might have come from the mosfets north of the HDMI port - if the voltage regulator broke down, those might have quite literally gotten too much power and literally smoked down. Be aware that I am working off the lowres photos from the radxa wiki images here(and I know already I got the pd controller wrong, the ROCK 5 uses a Fairchild FUSB302 USB PD, which is a tiny 9pin BGA Chip, howeverthat just handles usb, according to the data sheet it doesnt do any switching of voltages etc).
Either way, if there is smoke, that means there is always some visible damage somewhere, and mosfets / power switching components are always a prime suspects to look out for.