Yeah, that’s pretty much the killer app for these late model machines. The mac mini m1 is perfectly useable for 4k hobbyist work, but if you do this stuff for a living, something more powerful is required.
The m1 mini is good for gaming at 1080p medium/high. If you want something faster, the m1 studio looks exciting, though really, there are cheaper PCs that can handle that sort of thing.