I am primarily access the streams via the HLS url..
http://:8089/devices/ANY/channels//hls
When accessing it that way, will it even engage transcoding? Currently, I have dvr-channels, on the same VM as my Plex Server (has a quadro p2000) card in it. However, I was thinking of moving it into its own VM, but then it would no longer have access to the GPU/Quadro. Just curious if it needs the transcoder on the HLS stream.
It shouldn't be transcoding, but you can check the Log
This is what I am showing in the log.
2020/05/13 10:45:24.776959 [HLS] Starting transcoder for channel 6044 from 192.168.220.21 (encoder=remux, resolution=, deinterlacer=, bitrate=0)
2020/05/13 10:45:25.334705 [HLS] Probed live stream in 557.66962ms: h264 1920x1080 progressive 3822681bps
2020/05/13 10:45:25.553065 [HLS] Session ch6044-dANY-ip192.168.220.21 started in 2.006637188s
2020/05/13 10:45:25.553842 [ENC] Starting encoder for ch6044 in /media/PlexMedia1/dvrChannels/Streaming/ch6044-dANY-ip192.168.220.21-632270048/encoder-1-081009481 at 1 (0.134000) (encoder=h264_nvenc, resolution=720, deinterlacer=blend, bitrate=3822 segment_size=0.01)
This is the command that is connecting to the HLS stream:
/usr/bin/ffmpeg -loglevel fatal -reconnect_at_eof 1 -reconnect_streamed 1 -reconnect_delay_max 4294 -i http://ip:8089/devices/ANY/channels/6044/hls -vcodec copy -acodec copy -metadata service_provider=TVE -metadata service_name=Service01 -f mpegts -tune zerolatency
Looks like it is transcoding. You can add ?vcodec=copy to the end of the url and it should stop.
I put the stream URL into VLC, and loaded it up: http://:8089/devices/ANY/channels/6044/hls/master.m3u8?vcodec=copy
It shows as engaging the transcoder. If I use the DVR channels app on my iphone, it does not engage the transcoder.
Looks like the issue I ran into.
Started playing a soccer game on NBC Regional Sports and it's transcoding.
Stop playing, then start it again and it remuxes.
Can't make up its mind 
I turned on the http logs and found that the iPhone was connecting to:
http://[IP]:8089/devices/TVE-Hulu/channels//stream.mpg
That does not appear to engage transcoding or remuxing.
Adding ?codec=copy to the m3u8 URL will do what you want in the most recent DVR pre-release build.