Wouldn’t it be possible to send a stream cipher encrypted packet of audio to a hub server where the codec has a “progressive” decoding mode? If I’m not mistaken, Opus can already do something like this. That way a client could set their desired bitrate and the server would truncate the packets before passing them off and doesn’t need to be re-encoded. This only works with a stream cipher though.
Maybe an audio engineer or cryptographer could chime in?