Did you see the little 1024x768 (720p-ish) SLM I built at SELEM? I had it on my optical breadboard

. I've worked with some stupid-expensive DMD-based SLMs (they're the only game in town for UV wavelengths), and that inspired an active investigation into the lowest quality (read: cheapest) LCoS panels from which I can successfully eek out a simple HOE like a zone plate. I WISH you could pull this off for $30

...it's realistically more like low $$$ hundreds.
SLMs aren't new, but there's been a recent explosion in new applications for them. They used to be popular for automatic optical inspection and some niche high-speed computation systems (<cough> terrain-following guidance systems <cough>), but now they're driving everything from resin-based 3D printers, HUDs and VR devices, optical computing, and even digital inter-cavity beam shape control. At a super basic level, overhead transparencies and film negatives or slides can be considered static spatial light modulators. LCoS panels are convenient because of their polarization properties, but there are other types of electronic SLMs such as transmission-mode TN LCD and digital mirror array devices. I vaguely recall some researchers also doing exotic things like using surface acoustic waves to create SLMs with engineered metamaterials. Optically-addressable SLMs also exist.
The basic input "image" for your wavefront is the 2D Fourier transform of your desired output image. Computing the SLM input for
arbitrary phase and/or amplitude-based images is trivial, but the materials and build quality have a huge effect on ability to accurately form a wavefront and usually require blemish-mapping for defect correction. That necessitates access to a setup for characterizing the SLM. The special sauce in a lot of commercial packages is the extremely low-defect panel and some really good correction algorithms. One disadvantage of an SLM-based holographic image is the need to focus it onto a plane for viewing. You need some serious resolution to produce anything approaching the quality of a film-based hologram. However, low-res is still very cool for making things like optical tweezers and simple structured light.