I have developed a telemetry module for FrSky Smart.Port that works without any problems. As shown in the attachment I use an ATMEGA Beetle for the telemetry data transmission which is connected to the port D11 and the S.Port on the RX8R. The serial data transfer on the Beetle is done with the SoftwareSerial library with signal inversion. Operating voltage of the ATMEGA32U4 is 5V! What I cannot explain is why the TTL levels of the two communication partners are so different. The TTL level from the receiver has a little over 3V peak and the Beetle is also coming in at 1.67V. I have no clue why that is so! What can I do about it, for example, use a transceiver ...?
Die Video (here Graupner HoTT protocol is implemented) show the module in operation
https://www.youtube.com/watch?v=MVdIpeg13Ac&t=231s