Overcapped damage conversion question

Hello, had a question about the specifics of damage conversion. Say I have close to 100%, or exactly 100%, physical to vitality conversion. What happens to the physical damage → vitality conversion if I add a piece that has 40% physical to elemental? Is there a specific order in which it applies? Do I retain the 100% physical → vitality if it’s on different pieces (i.e. 40% on one piece and 60% on another) if I equip an item with 40% physical to elemental?

Thank you in advance!

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weighted out proportionally to your conversion amounts

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Exact numbers, I think, would be calculated like:
40/140 become elemental (29%)
rest becomes vitality (71%)

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