The important thing you want to look out for is hardware decoding.
This iGPU supports h264 and h265, so you should be fine with pretty much everything you throw at it. It does not support AV1, but adoption will take quite some time so I wouldn't bother.
When AV1 eventually gets mainstream you can just put a cheap (non-"gaming") GPU in there for 50$ or so.
So yea, you will be fine.
Well ackshully newer CPUs support 5-level-paging which uses 56 bits.