I prefer whatever codec my hardware supports. Currently Pi 4 does both your options so I don’t care which. x265 has slightly smaller file size for the same quality wish is nice.

4G: Fast phones. 5G: Faster phones. Neither of them can give you cancer or cause Covid or are Bill Gates mind control or whatever else the cookers are coming up with these days. The best explanation I’ve seen is this hilarious and educational video from ElectroBoom: https://youtu.be/i4pxw4tYeCU