I believe I may be seeing a similar problem. Mine began about a week ago, maybe when I updated to 1.19.1? I’m seeing it across a Mac server in a datacenter with 1 Gbps symmetrical, a Mac server at my office with 1 Gbps symmetrical, and a server in another datacenter with 10 Gbps symmetrical. I believe all the clients with issues are running tvOS, I haven’t tested other clients. But streaming, whether direct play or transcoding, is sporadic. Sometimes they stream a 40 Mbps video fine, other times a 5 Mbps video constantly buffers. Sometimes switching between direct play and transcoding helps, other times it does nothing.
I’m going to try downgrading to an older server version to see if that helps. Just need to find those downgrading instructions…