Prof. Bang-Yen Chen, I do not know, and it seems quite tough. However, I would like to ask about the right-hand side. In particular, is the inequality sharp? Can equality be achieved? Also, as a remark, the right-hand side does not depend on $m$, which makes the conjecture even more interesting. Perhaps the right-hand side is related to some characteristic numbers of $HP^n$?
Prof. Bang-Yen Chen, are similar lower bounds on the total mean curvature (raised to some power) known to hold for some other compact manifolds? Do they hold for arbitrary compact Wolf spaces? For instance, in dimension $4$, does it hold for $CP^2$? I am not familiar at all with such problems, so I am just asking naively.