Why things transcode in Plexweb is easy to figure out - it’s Plexweb and it’s running in your browser.
Scroll down and get the Dedicated Player App for your OS - at the “Devices/Apps” link below…
and/or (you can use both)
install Plex Media Player - The Millinnium Falcon of Plex Player Apps (it’s even got a cup holder):
Either of those two ‘Player Apps’ will probably Direct Play anything you throw at them.
Plex for Windows/Mac looks exactly like Plexweb, so you’ll never know the difference and PMP looks exactly like Plexweb until you hit the TV View Button - then your world changes and that opens up special/enhanced/super-duper features and settings within. Once set everything works in any view, but they can only be accessed and set from TV View.
Chew on those for a while…