Server Version#: 1.13.8.5395
Well, this is the best I’ve gotten Plex to work with multiple GPUs, specifically an integrated GPU and a discrete GPU, both active.
Connect monitors to both 1070 Ti and UHD 630. Set UHD 630 as primary GPU by selecting the monitor connected to it as primary.
Start 4 streams, force transcode by setting 8 mbps 1080p quality.
Results in picture.

First 2 hw transcodes are sent to NVEnc. Next 2 hw transcodes are sent to Windows mediafoundation. Because UHD 630 is primary, Intel QSV for mediafoundation is used.
Enhancement request: Allow use of h264_qsv directly instead of accessing qsv through h264_mf when iGPU and Nvidia (or AMD / other brand) discrete GPU are both active. Allow fallback to h264_nvenc if h264_qsv has an error, instead of to CPU.