I'd have to seriously disagree.
First of all, all the OP has is an OEM license for that HP OEM version of Windows, since that is what it shipped with. HP was a prime developer with MS of NT5 (Windows2000) and maintained a close relationship afterwards. Their OEM versions are normally quite tightly tuned and rely on custom drivers to support their hardware.
So aside from not being licensed for a retail installation, his installation key "shouldn't" work to activate a retail installation. He'd have to make backup discs of the original, or try to buy them from HP, in case the retail install doesn't activate. And that's a real chance, happens quite often.
Second, the hardware drivers in the retail installation may not work with his hardware. Things like the video drivers and network drivers, yes, even the Wifi driver, may not work properly.
Back in NT5 (which really was the dividing line where NT became mainstream) MS rewrote the book and distributed something like 10,000 hardware drivers with the OS. I' afraid to ask how many are in their library now, since Win10 goes online and looks at the MS driver archives to find drivers. But, again, OEM drivers aren't always there. Using MS drivers instead of the specific (and often more recent) OEM drivers is toxic on many systems, or at least results in less than optimum performance.
Sorry, but putting a retail install on an OEM system is a recipe for...rolling the dice and maybe shooting craps. Even if you download what you think are all the OEM drivers, you won't be aware if there are any current issues with those drivers. (And there always are bad drivers, for something out there, and only real techies will be aware of them.)
While NT is much better at accommodating "strange" hardware than it used to be, it still relies on literally enumerating all the subsystems (drive controller, video, USB, Wifi, BT, audio system, etc.) and then compiling all the specific drivers during the install. If one of those drivers isn't quite right, it tries to fall back and load a generic driver--but again, that often leaves you in a "limp home" mode, not getting full or reliable performance. Sometimes the MS driver, or an older OEM driver, is better than a new one. A consumer won't know about that.
All this again means a free phone call to HP's misbegotten overseas support center is the fastest way to get the most reliable answer. Yes, sometimes they are just "script readers" but sometimes you get a good tech, who can make the fix without rolling any dice. The worst thing that can happen is HP fails, you warranty the machine back for a new one, and you don't have to worry about NT being installed incorrectly.
Mixing versions and drivers can leave you with literally MONTHS of screwing around with mysteries popping up. Been there, done that, too many times over too many years.
Years ago when DELL was a radical new company custom building systems, they routinely screwed up, mismatching hardware (if it wasn't in stock, they'd upgrade you for free so they could still ship fast) but they sometimes mismatched drivers and misconfigured systems in their rush. These days? Unless you order a "custom" machine, the drivers are all put together on the distribution image, and they will be matched to the machine--even if there are upgrades that will be found during the installation. (And I've seen Windows take literally 24 hours to finish screwing around with upgrades to the OS and hardware. It still ain't pretty.)
With remote access and remote diagnostics, a tech in Hyderabad can get into a computer, check the installation logs, check the driver versions, enumerate the hardware, TEST the hardware, all as if they were sitting at the keyboard. And you can kick them off at any time. The guys aren't just reading from a book these days, they are actually poking around INSIDE the computer. And if it is a simple configuration issue (very possible here) they will know how to spot that and correct it, although you may need to physically plug in a network cable to give them access until the Wifi is fixed.
The warranty has been bought and paid for, so why not use it?