Once the auto-bids and at large teams are selected, split A and AA, Split E and W, the first place teams are seeded, second place teams are seeded, (third place but not sure any 1A has 9 or more teams in conference). Then at larges are seeded.
Your MaxPreps Adjusted rankings can not leap frog you over a higher finisher conference opponent, but if the higher conference finisher receives an at large bid and there is space you can also receive an at large bid and then be seeded higher than the conference finisher. (this happened in Volleyball and Soccer).
This is how it was explained to me from the NCHSAA.