Plex is transcoding MPEG2 regardless of settings

I’m on version 7.13.9 on my Roku Premiere (4620). In that version, in Settings → Video, there’s an option “Experimental 1080p MPEG2.” Enabling that allowed 1080i MPEG2 to be direct-streamed (no transcoding) in my environment. Maybe give that a try on yours? (Without it enabled I see the same behavior as you describe.)

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