Just want to second this - I use an Intel nuc10i7 that has quicksync for Plex/jellyfin, can transcode at least 8 streams simultaneously without breaking a sweat, probably more if you don’t have 4K, and a separate synology nas that mainly handles storage. I run docker containers on both and the nuc has my media mounted using a network share via a dedicated direct gigabit Ethernet connecting the two so I can keep all the filesystem access traffic off of my switch /LAN.
This strategy was to be able to pick the best nas based on my redundancy needs (raidz2 / btrfs with double redundancy for my irreplaceable personal family memories) while being able to get a cost effective low power quicksync device for transcoding my media collection, which is the strategy I chose over pre-transcoding or keeping multiple qualities in order to save HDD space and be flexible to the low bandwidth requirements of whoever I share with who has a slow connection.