Can it transcode 4k
homelab
Don't transcode on Plex if you can avoid it. It's very compute-intensive and it makes your streams look like shit. Convert your videos to nice formats that most people can direct play (like x264 or x265) and turn transcoding off. It'll keep your hardware running longer, keep your electric bill down, and your streams will look better. Win-win-win-win.
That's assuming you can afford the storage to store multiple copies of your media.
You can convert most movies to 1080p x265 and it takes up a little over a gigabyte of space. If you're already hosting 4K movies, why do you give a shit about another gigabyte? If you're NOT hosting 4K movies, then you have ZERO reason to transcode, just make everything 1080p and call it a day.
Also, transcoding DOES cost you money, your electric bill goes up, even if you don't track it or care. So spend the extra fifty bucks on a few extra terabytes now rather than spending it over the course of several months transcoding. And if you cut out transcoding, you can run Plex on VERY cheap hardware, so that saves you money too.
Transcoding. Is. Dumb.