PMS is not detecting your processor’s GPU and trying to do everything in software.
Jan 14, 2018 10:15:54.130 [0x7fdf89a23700] DEBUG - Codecs: testing h264_nvenc (encoder)
Jan 14, 2018 10:15:54.130 [0x7fdf89a23700] ERROR - [FFMPEG] - Cannot load libcuda.so.1
Jan 14, 2018 10:15:54.130 [0x7fdf89a23700] WARN - avcodec_open2 returned -1313558101 for encoder 'h264_nvenc'
Jan 14, 2018 10:15:54.130 [0x7fdf89a23700] DEBUG - Codecs: hardware transcoding: testing API vaapi
Jan 14, 2018 10:15:54.131 [0x7fdf89a23700] ERROR - [FFMPEG] - No VA display found for device: /dev/dri/renderD128.
Jan 14, 2018 10:15:54.131 [0x7fdf89a23700] DEBUG - Codecs: hardware transcoding: opening hw device failed - probably not supported by this system, error: Invalid argument
Jan 14, 2018 10:15:54.131 [0x7fdf89a23700] DEBUG - Scaled up video bitrate to 4567Kbps based on 4.500000x fudge factor.
Jan 14, 2018 10:15:54.131 [0x7fdf89a23700] DEBUG - Codecs: hardware transcoding: testing API vaapi
Jan 14, 2018 10:15:54.131 [0x7fdf89a23700] ERROR - [FFMPEG] - No VA display found for device: /dev/dri/renderD128.
Jan 14, 2018 10:15:54.131 [0x7fdf89a23700] DEBUG - Codecs: hardware transcoding: opening hw device failed - probably not supported by this system, error: Invalid argument
Jan 14, 2018 10:15:54.131 [0x7fdf89a23700] DEBUG - Scaled up video bitrate to 4567Kbps based on 4.500000x fudge factor.
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - MDE: Selected protocol hls; container: mpegts
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - MDE: analyzing media item 10817
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - MDE: E9 - King of the Beach: no direct play video profile exists for http/mkv/hevc
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - MDE: E9 - King of the Beach: no direct play video profile exists for http/mkv/hevc/ac3
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - MDE: E9 - King of the Beach: selected subtitle cannot be converted to a compatible format, burning into video stream
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - MDE: E9 - King of the Beach: avoiding video remux due to burned subtitle stream
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - MDE: E9 - King of the Beach: no remuxable profile found, so video stream will be transcoded
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] DEBUG - Codecs: testing h264_nvenc (encoder)
Jan 14, 2018 10:15:54.132 [0x7fdf89a23700] ERROR - [FFMPEG] - Cannot load libcuda.so.1
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] WARN - avcodec_open2 returned -1313558101 for encoder 'h264_nvenc'
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] DEBUG - Codecs: hardware transcoding: testing API vaapi
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] ERROR - [FFMPEG] - No VA display found for device: /dev/dri/renderD128.
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] DEBUG - Codecs: hardware transcoding: opening hw device failed - probably not supported by this system, error: Invalid argument
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] DEBUG - Scaled up video bitrate to 4567Kbps based on 4.500000x fudge factor.
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] DEBUG - MDE: The Incredible Hulk - S4 E9 - King of the Beach: selected media 0 / 10817
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] DEBUG - Streaming Resource: Adding session 0x7fdf7b51e9e0:F3BC52A5-8AF3-4B1C-8624-34F50C979233 which is using transcoder slot. Used slots is now 1
Jan 14, 2018 10:15:54.133 [0x7fdf89a23700] DEBUG - Streaming Resource: Added session 0x7fdf7b51e9e0:F3BC52A5-8AF3-4B1C-8624-34F50C979233
Jan 14, 2018 10:15:54.134 [0x7fdf89a23700] DEBUG - Streaming Resource: Reached Decision id=11270 codes=(General=1001,Direct play not available; Conversion OK. Direct Play=3000,App cannot direct play this item. No direct play video profile exists for protocol http, with container mkv, and video codec hevc. Transcode=1001,Direct play not available; Conversion OK.) media=(id=10817 part=(id=10852 decision=transcode container=mpegts protocol=hls streams=(Video=(id=5986 decision=transcode bitrate=4567 encoder=libx264 width=768 height=576) Audio=(id=5987 decision=transcode bitrate=129 encoder=aac channels=1 rate=48000) Subtitle=(id=5988 decision=burn languageCode=swe location=embedded))))
Jan 14, 2018 10:15:54.136 [0x7fdf89fff700] DEBUG - Completed: [192.168.1.215:59032] 200 GET /video/:/transcode/universal/decision?audioBoost=100&autoAdjustQuality=0&directPlay=1&directStream=1&directStreamAudio=1&location=lan&partIndex=0&path=%2Flibrary%2Fmetadata%2F11270&protocol=hls&subtitleSize=134&subtitles=auto&videoQuality=100&videoResolution=3840x2160 (13 live) TLS GZIP 23ms 1594 bytes (pipelined: 25)
Jan 14, 2018 10:15:54.162 [0x7fdf89d11700] DEBUG - Auth: authenticated user 1 as oRBIT2002
Jan 14, 2018 10:15:54.163 [0x7fdf7d511700] DEBUG - Request: [192.168.1.215:59018 (Subnet)] GET /transcode/sessions (14 live) TLS GZIP Signed-in Token (oRBIT2002)
Jan 14, 2018 10:15:54.165 [0x7fdf89d11700] DEBUG - Completed: [192.168.1.215:59018] 200 GET /transcode/sessions (14 live) TLS GZIP 2ms 397 bytes (pipelined: 35)
Jan 14, 2018 10:15:54.174 [0x7fdf89fff700] DEBUG - Auth: authenticated user 1 as oRBIT2002
Jan 14, 2018 10:15:54.174 [0x7fdf7fe23700] DEBUG - Request: [192.168.1.215:59018 (Subnet)] GET /:/timeline?bufferedTime=0&duration=2792560&key=%2Flibrary%2Fmetadata%2F11270&location=lan&playQueueItemID=3840&ratingKey=11270&state=buffering&time=0 (14 live) TLS GZIP Signed-in Token (oRBIT2002)
Jan 14, 2018 10:15:54.175 [0x7fdf7fe23700] DEBUG - Client [F3BC52A5-8AF3-4B1C-8624-34F50C979233] reporting timeline state buffering, progress of 0/2792560ms for guid=, ratingKey=11270 url=, key=/library/metadata/11270, containerKey=, metadataId=11270
Jan 14, 2018 10:15:54.176 [0x7fdf7fe23700] DEBUG - [Now] User is oRBIT2002 (ID: 1)
Jan 14, 2018 10:15:54.176 [0x7fdf7fe23700] DEBUG - [Now] Device is iOS (Morgan iPhone8).
Jan 14, 2018 10:15:54.177 [0x7fdf7fe23700] DEBUG - [Now] Profile is iOS
Jan 14, 2018 10:15:54.177 [0x7fdf7fe23700] DEBUG - [Now] Updated play state for /library/metadata/11270.
Jan 14, 2018 10:15:54.178 [0x7fdf7fe23700] DEBUG - Statistics: (F3BC52A5-8AF3-4B1C-8624-34F50C979233) Reporting active playback in state 2 of type 4 (scrobble: 0) for account 1
Jan 14, 2018 10:15:54.181 [0x7fdf89d11700] DEBUG - Completed: [192.168.1.215:59018] 200 GET /:/timeline?bufferedTime=0&duration=2792560&key=%2Flibrary%2Fmetadata%2F11270&location=lan&playQueueItemID=3840&ratingKey=11270&state=buffering&time=0 (14 live) TLS GZIP 6ms 470 bytes (pipelined: 36)
Jan 14, 2018 10:15:54.185 [0x7fdf89fff700] DEBUG - Auth: authenticated user 1 as oRBIT2002
Jan 14, 2018 10:15:54.185 [0x7fdf88be1700] DEBUG - Request: [192.168.1.215:59056 (Subnet)] GET /video/:/transcode/universal/start.m3u8?audioBoost=100&autoAdjustQuality=0&directPlay=1&directStream=1&directStreamAudio=1&fastSeek=1&includeCodecs=1&location=lan&offset=283&partIndex=0&path=%2Flibrary%2Fmetadata%2F11270&protocol=hls&session=DEEA668C-D93C-4BEC-920E-EA4B884327CF&subtitleSize=134&subtitles=burn&videoQuality=100&videoResolution=3840x2160 (14 live) TLS GZIP Signed-in Token (oRBIT2002)
I strongly recommend you download PMS 1.10.1 (public version) and install it.
There are reports of the problem you see with 1.11.0