No, the S8 connection hub is stereo only. Also it only decodes PCM stereo, not 5.1 DTS or anything like that.
Other than getting a surround decoder, another box, some lots of $$$ Your best bet is still a 'home theatre receiver'. Not only decoding the surround to analogue an issue, also volume control. So a preamp for the channels is required, hence an integrated receiver will do just that.
Also like mentioned, modern ones accept HDMI CEC and modern televisions also output audio via HDMI ARC. So with one cable from the television, all controls like on-off and volume can be done via tele remote.
For your needs you'd have to find a receiver that is:
- does HDMI ARC & CEC
- with preouts for each channel.
- as small as possible