I saw a video a while back (it was since taken down) from a guy with a low power TV station who experimented with broadcasting much more modern video codecs. He experienced some good results with modern "smart TVs" largely because they have good hardware support for various modern video codecs and seemed to handle the streams just fine. He managed to get multiple 4K video streams over standard ATSC 2.0 signaling working on a range of different TV models. It seemed like a neat experiment.