Understanding transcoding

I've re-transcoded all video files on immich ever since I've de-selected PCM audio codec in the settings (to get iOS Live Photos to play with sound on Firefox). All fine on that front, the Live Photos work and play with sound now.

Am I right in thinking that all regular videos were also transcoded (to 1080p H264 as in the encode settings) and thus 4k would no longer be 4k and any HDR is lost?

If so is there a way to have 4k & HDR videos remain 4k & HDR?
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