Plex optimise version vs transcoding with Handbrake for example

Getting a taste for 4k resolution since upgrading to a new tv. Now some thoughts that I have.
Optimising version in Plex, what format and what does Plex do with sound or HDR content when optimising?
My approach was transcoding a 4k video and now here is the deal. I´m not a native english speaker so for my kids I would like to keep english with the ability to choose subtitles or our native language sound track. I tried it successful with Handbrake being able to choose how and what to transcode. Placing the 1080 version in same Plex folder and test it on different equipment.
Next question would be if someone here transcodes 4k into 1080 resolution what would you recommend thinking of when doing it.

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