Adobe Premiere Pro Patch Promises Gigantic Encoding Boost For Intel And NVIDIA GPUs

These kinds of updates are the usual headline items for video editors; certainly Adobe itself highlights them in its patch notes. Still, as with most mature application software, it's the performance improvements that will probably offer the biggest quality-of-life upgrades for folks that use Premiere day-in and day-out.
You might think that 10-bpc or "10-bit" video is unnecessary given the limited adoption of displays supporting Deep Color, but that's actually not the purpose of 10-bit video at all. Instead, the higher precision helps avoid banding artifacts when converting videos across various colorspaces—something that happens with shocking regularity during playback. It also typically reduces final file size, somewhat ironically, as the encoder can perform more efficiently thanks to the increased precision.
Premiere now supports 10-bit HEVC encoding on both Intel and NVIDIA GPUs. For Intel, you'll need a 9th-gen Core CPU or later, while for NVIDIA you'll need a GPU capable of such encoding. Per NVIDIA's own Video Encode and Decode GPU Support Matrix, that means a Pascal or newer card, although you'll need Turing to make use of B-frames (and their benefit to efficiency.)