Indeed, with the SDG6000X, it's possible to modulate the signal so it can be received "via the air". Since the TV modulation scheme is inverse, i.e. white level is minimum RF amplitude, sync pulse level is maximum, the PAL converter has to be configured somewhat awkwardly, see screenshot below. To simplify this, the author of the program may possibly add an "Invert Output" switch since just negating the individual samples is a no-brainer

.
As the AM source for the RF channel (in my case CH2), the other channel, playing the arbitrary, (in my case CH1) has to be selected. For an external link, the modulation ADC isn't fast enough. Otherwise, the setup is straight forward. Negating the output of the arbitrary channel doesn't negate the modulation signal, just the "real" PAL output, hence the neccessity to "fake" the negation with the aforementioned settings. The output of the arbitrary channel has to be enabled nevertheless, otherwise there's no signal generated.
The big advantage of the SDG6000X is its wide frequency range, so the lower and upper VHF bands can be covered as well as the lower third of the UHF band.
Unfortunately, Rigol's DG800(+) locks the second channel if a custom arbitrary is played back on the first (and probably vice versa); even enabling the frequency counter disables custom arbitraries. Seems like this generator is really built to a budget and lacks in FPGA resources ... or just sloppy programming (hello, Rigol??)

But obviously, there's got to be a reason for the substantial price difference between the mentioned Rigol and Siglent AWGs.
I'm quite curious to know if this PAL modulator setup also works with the SDG2000X (obviously only lower VHF) or other, capable AWGs. To simplify this test, I uploaded the arbitrary file to a file sharing platform,
here's the link. Sampling rate to be selected is 35468950 Sa/s.
Enjoy and have fun experimenting!