Last dedicated hardware encoder I used was bad old days of MPEG2 for DVDs, but that went the way of the dodo when MPEG2 went native to the CPU. Never used hardware for h.264/5. I guess there was a board for J2k doing realtime lossless, but that was 2010ish.
So I'm legit curious what hardware transcoding looks like today, and that Plex charges for the pleasure