Paul,
The full dress uniform certainly conforms to the pattern of cords etc. as shown in 'Historical Records of the Denbighshire Hussars Imperial Yeomanry 1795-1906', prior to the change to lancer plastron and girdle in 1904.
You should be able to check for definite which unit your relative was in by checking his service record. Try starting with his medal index cards at the PRO for the 1st WW.
Hwyl fawr,
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