Repurposing a 4790K

I used to run a Plex server but let things slide a few years ago, I’m looking to get back in the game and am considering whether I should use what I have lying around from some older builds, or start fresh with some new hardware.

I have a I7 4790K that I’m considering using (along with a motherboard and 32gb of DDR3 ram), but in what research I’ve done it wouldn’t handle hardware transcoding very well and would be a bit of a power hog.

I’m leaning on scrapping the old hardware and starting fresh, but wanted to get the opinion and community knowledge prior to doing so.

Any thought from folks in my situation?

Edit: DDR3 RAM