Using a modified Cahn-Hilliard-Cook theory for spinodal decomposition in a binary mixture that exhibits both diffusion and interconversion dynamics, we derive the time-dependent structure factor for concentration fluctuations. We compare the theory and obtain a qualitative agreement with simulations of the temporal evolution of the order parameter and structure factor in a nonequilibrium Ising/lattice-gas hybrid model in the presence of an external source of forceful interconversion. In particular, the characteristic size of the steady-state phase domain is predicted from the lower cut-off wavenumber of the amplification factor in the generalized spinodal-decomposition theory. • A source of forceful interconversion may produce microphase separation. • The time evolution of the phase formation is characterized through two wavenumbers. • Steady-state domain size scales with square root of forceful interconversion rate • Results match with Monte Carlo simulations of a nonequilibrium hybrid model. • Source of forceful interconversion may be connected to an external energy source.