Current Status Of Plex & 4K Transcodes

Have you read @

Read the whole thread for a variety of opinions.

But IMO with gpu and tone mapping support, given new/sufficient enough hardware, you should be fine with 4K transcoding.

Still keep in mind, that it is much less load to direct play a 1080 Blu-ray, than it is to transcode 4K to 1080/720 etc, and tone mapping may be good enough, but a normal sdr Blu-ray will still have the original colors (vs hdr/sdr converted).