With TunesKit iTunes DRM Media Converter for Mac, you can easily get rid off the iTunes DRM protection from iTunes purchased and rental movies, TV shows and music videos.
Key Features of TunesKit for Mac:
1. Remove DRM from iTunes movie purchased & rental movies, TV shows and music videos
2. Convert iTunes DRM-protected M4V videos to lossless DRM-free MP4
3. Retain AC3 Dolby 5.1 audio track & subtitles & multiple languages
4. Transfer iTunes movies to any popular mobile devices & players
I'm using iTunes 12.5, not the latest, but TunesKit appears to work well with it. I think maybe you should make modification to the description there.
Just download the trial version and it worked flawlessly on my Macbook Pro. Both iTunes purchases and rentals can be converted. Great software! I will buy the full version.