In the Plex app with the enhanced player, 4K movies (24p) outputting to 60p have strong stutter that doesn’t appear to be from normal 3:2 pulldown. This does not happen when playing 1080p content, the TV is able to play those stutter-free.
The debug info says it is not dropping frames and doesn’t show any other possible issues,
Infuse player playing back the same 4K 24p files does not have this issue. Using the old Plex player also does not have this issue (but has its own separate issues that make it unusable IMO).
The AppleTV’s Match Frame Rate option does fix all stuttering, but it also introduces all sorts of lip sync issues between apps which is why I prefer not to use it.
The Enhanced Player on AppleTV seems to have a few issues with stuttering or buggy 4K playback in general. My UHD Blu-ray rips of Apollo 11 and Guardians of the Galaxy in particular do not playback with Plex, but work perfectly with Infuse.