4k transcoding

I've read a lot on here on whether or not to use GPUs are transcpding your plex server. General consensus is to hardware decode with the CPU and have separate 1080 and 4k copies for the same movie. With 4k becoming more common, I really don't feel like filling my storage with duplicates of everything.

I'm currently running the server of a NUC running a Ryzen 5 6600H. I recently found that i had a spare 3070 TI not being used. I have about 12 people using my server (obviously not all at the same time) but the load is typically around 3-5 streams at once. Is running the 3070 as an eGPU worth it/ would I actually notice an improvement?