Hi alankst100 
Dynamic clothing (physically simulated cloth), can be used to render out a static shot, or an animation of a moving figure and clothing.
whether you choose to render out a single frame,. or a Sequence of frames, is your choice.
Dynamic clothing needs to be simulated using physics, so it’ll work well on an animated figure, but you can render a single frame of that simulation you like.
Any other clothing in Daz Studio or Poser, is called “Conforming clothing”
It has a set of bones which matches the figure wearing the clothing,. and once the clothing is “Conformed” (poser) to or,.. “Fitted to” (Daz Studio) the selected figure, then wherever the figure moves , the clothing will follow.
Dynamic cloth is made specifically to be dynamic and has a different structure than normal conforming clothing.
Try animating your figure moving from the default (T-Pose) into any other pose over a couple of seconds,. Add the Dynamic clothing, and Simulate the Dynamic clothing on that animated figure.
Once it’s simulated,. you can scrub the time-line to find a pose you like,.. then render that single frame out .
That’s a lot easier than trying to convert dynamic cloth , reduce the mesh, import the object, add the bone rig, and weight map it to make it into conforming clothing. ....If you don’t need to.
Hope it helps 