This is the whole CPU just for you? If yes it has 32k pass mark score and therefore enough for roughly two 4k transcodes ( dunno if h264 or h265 matters). Plenty of 1080p transcodes though.
There you have it
Have you confirmed that the board will post bios without a graphics card in? I’ve had issues in the past with this approach but admittedly with much older hardware.
It is a dedicated server, it will boot guaranteed…
The only short comings are with transcoding and anything that uses it (optimization). But since the CPU is quite beefy, you won’t feel it if you don’t process 4k HEVC HDR material a lot
Btw hetzner also offers intel cpu with iGPU, maybe they are worth a look.