Server Version#:Windows 1.14.1.5488
Player Version#:Chrome Version 3.83.1
With modern hardware (e.g. i9-9900K and a Quadro 2000), PMS can transcode 4K->1080p without breaking a sweat. Can do multiple transcodes elegantly. However, the video it outputs looks like poop. (Literally: HDR->SDR transcoding has a baby-poop tinged glaze.) Yes, PMP for Windows can accept DirectPlay from the server and transcode HDR->SDR at the client level with proper tone-mapping. Of course, good HDR->SDR tonemapping transcoding can be done.
Just want to say: Plex, it’s time. Time for PMS to transcode 4k HDR->SDR correctly.