LG TV app transcodes on recent PMS, doesn't on older (pre-transcode code rebaseline)

Server Version#:1.43+
Player Version#: Current LG TV app

After I upgraded to the new re-baselined transcoding PMS in January, I started seeing issues with playing media from my Pi5 that I’d never had before. These have continued, and the root cause is clear: the new PMS now forces the Pi to transcode when the older version doesn’t. After reverting to 1.42 from September, HEVC 1080p media is played with Direct Play. On current versions, including latest GA, it forces a transcode - which the Pi struggles with.

I’m on 64-bit raspberry pi OS.

Chromecast to the same TV of the same media doesn’t force the transcode and it plays with the latest version. (Yes, I know, everybody warns about the LG TV app, but it has a remote control which makes it easy to control.)