Hello Rennie,
Please specify, if you are interested in exporting the data in British National Grid system with ODN height? If so, then you should download OSGM15 geoid model from the following page and put it to teh /geoids/ sub-directory in Metashape Pro installation folder. Then (after re-starting the application) use the corresponding coordinate system for export - with EPSG code = 7405.
According to your description you are selecting Geographic coordinate system with the code 4277 that is using Latitude/Longitude (both in degrees) for X and Y coordinates definition. And it appears that the CAD software that you are using to open the exported results is interpreting all X, Y and Z values as similar units, while they are not.