The aspect ratio settings are only applicable to SD content. During my testing, I found it best to set the aspect ratio manually to 16:9 and keep the auto box unchecked. In this mode, the STB should be set to send 4:3 SD content with side bars.
When outputting video into ArcSoft ShowBiz, the application will automatically detect the incoming video and display the resolution e.g., 1280 x 720 for 720p video.