The Hellinger-Kantorovich (HK) space provides a natural geometry for nonnegative measures with varying total mass, but its differential-geometric structure is less well understood than that of the closely related Wasserstein space of probability measures. In this paper, we take a step toward resolving this issue. We show that the cone representation of the HK geometry via the Wasserstein metric preserves the local Riemannian geometry along a class of lifted geodesics. Specifically, we give a constructive procedure that produces a Wasserstein geodesic on the cone along which the HK Riemannian geometry is preserved pointwise, yielding an explicit isometry of tangent spaces between HK geodesics and their Wasserstein lifts. This connection makes many Wasserstein-geometric tools available for HK computations. Concretely, we use it to approximate parallel transport on HK space by lifting to the cone and applying recently developed Wasserstein parallel transport tools, circumventing the high-dimensional PDE arising from the HK covariant derivative. We also derive closed-form expressions for the covariant derivative and parallel transport on Euclidean metric cones, using the theory of warped-product manifolds. Finally, we present simulations illustrating the behavior of parallel geodesics in HK space, which reveal that the HK geometry couples spatial and mass variation through the geometry of the cone -- a feature with nontrivial implications for applied use of the framework.