This is an illusion, so you're going to have to ask your GM. Here is how I personally understand/rule the armor
The Glamour Studded Leather Armor states:
You can also use a bonus action to speak the armor's command word and cause the armor to assume the appearance of a normal set of clothing or some other kind of armor. You decide what it looks like, including color, style, and accessories, but the armor retains its normal bulk and weight.
I would compare this with the disguise self spell which states:
You make yourself, including your clothing, armor, weapons, and other belongings on your person, look different until the spell ends or until you use your action to dismiss it. [...]
I would say the disguise self spell does allow any armor created to move as it normally would, otherwise there'd be nearly no reason to change your appearance as the illusion would be seen through near-instantly.
Similarly with the Glamour Armor, if it did not move and act like the replicated armor then the illusion would be seen through near-instantly. The armor even gives the example of turning the leather armor into normal clothing which moves nothing similar to leather armor. Thus I believe that any armor you replicate will appear as it normally would on a creature.
The armor "assumes the appearance" of clothing/armor, it does not actually change its shape or size, only how it appears. This means that its physical form is not being altered so physical interactions with the armor would reveal it to be an illusion.
The only things that remain the same are the bulk and weight of the original armor, that is, the character using the armor will not feel a change in it when they alter it, and there will not be changes to strength requirements or stealth disadvantages.