Plex says: https://support.plex.tv/articles/201774043-what-kind-of-cpu-do-i-need-for-my-server/
If you want very basic minimum suggestions:
No transcoding: Intel “Atom” 1.2GHz (NAS devices based on ARM processors should also be capable of at least one stream with no transcoding)
Single 720p transcode: Intel Core i3 3.0 GHz
Single 1080p transcode: Intel Core i5 3.0GHz
Single 4K transcode: Intel Core i7 3.2GHz
The Guideline
Very roughly speaking, for a single full-transcode of a video, the following PassMark score requirements are a good guideline for the following average source file:
4K HDR (50Mbps, 10-bit HEVC) file: 17000 PassMark score (being transcoded to 10Mbps 1080p)
4K SDR (40Mbps, 8-bit HEVC) file: 12000 PassMark score (being transcoded to 10Mbps 1080p)
1080p (10Mbps, H.264) file: 2000 PassMark score
720p (4Mbps, H.264) file: 1500 PassMark score
The CPU Benchmark website is a good resource to see what sort of PassMark score a particular processor received. From there the LTT machine is good for about
Multithread Rating
6034
Single Thread Rating
2263