Conversions on device instead of server for downloaded content

Is it possible to have media conversions occur on the device instead of server – for downloads to device? My devices are relatively new iOS devices with way more processing power than my old laptop running my Plex server.

And I’m aware I’d be using a lot more bandwidth on my home wifi.

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If you’re using the current generation players and set local streaming quality to original/maximum, Plex should not require transcoding in most cases anyway. If you set your client to a specific quality or find some media it can’t actually handle on its own, the actual transcoding will only happen on your server.