H.265 (HEVC)
H.265, also called HEVC, is the more modern successor to H.264 that achieves the same quality at a smaller file size. It's especially useful for 4K and HDR, because it compresses more efficiently. The downside is that it's heavier to encode and isn't played back as well everywhere.
Use H.265 when file size matters, for example when uploading or storing 4K footage. In DaVinci Resolve, Premiere Pro and Final Cut Pro you find H.265 among your export options. Keep in mind that older devices or programs sometimes struggle to play it back. Tip: for broad compatibility H.264 remains a safer choice, pick H.265 when you really want to save on file size.
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The presets on this site set these adjustments up for you as a starting point, which you then fine-tune to taste.