The dynamical evolution of spatial patterns in a complex system can reveal the underlying structure and stability of stationary states. As a model system we employ a two-component Bose-Einstein condensate at the transition from miscible to immiscible with the additional control of linear interconversion. Excellent agreement is found between the detailed experimental time evolution and the corresponding numerical mean-field computations. Analyzing the dynamics of the system, we find clear indications of stationary states that we term nonlinear dressed states. A steady-state bifurcation analysis reveals a smooth connection of these states with dark-bright soliton solutions of the integrable two-component Manakov model.