Sorry, forgot..
Emulated RTS pin changes real RTS pin (but I guess not all USB adapters support it). So does DTR. CTS is read-only.
But there is another problem: even at low speed (110), there is most likely far too much random latency (time between emulator calling Windows serial port API) that makes this method of data transfer unreliable.
And where would you connect it? Connecting real genlock this way does not make much sense because video is missing
Only solution is to emulate whole device but so far there is not enough hardware information. Someone needs to reverse engineer it first/diassemble the software. I am not interested, sorry.