as @tmm1 mentions - you need to use omx-h264 as the vcodec on a suitably enabled ffmpeg on your rpi.
so need to check which ffmpeg your vlc is running and if enabled
but what exactly are you trying to do?!
The extend already has ability to transcode before you even bring it to your VLC?
If your VLC server is taking up too much CPU I would look to see if you can get the extend to output the transcode you want via the HTTP API optional parameter 'transcode=<profile>'
https://info.hdhomerun.com/info/http_api
if your not happy with the extend outputs, you can get better via ffmpeg, but you run in to a few limitations and CPU/memory usage will vary depending on how crazy you get
- rpi encoder maxes out at 1080p30
- no mention of interlaced encoding in spec for RPi4.. so not sure if you have to do a de-interlace for 1080i content anyway
- not clear even if using the HW decoder and encoder if ffmpeg sets up a HW pipeline to reduce copies, otherwise it's going to have to copy the decoded image to the CPU and then copy from CPU to the decoder - which consumes CPU and of course memory
- command line you have has an implicit de-interlace and resize - both consume CPU
- you will consume CPU anyway for audio transcode of AC3 to MP3
- you will also always consume CPU to demux the TS file from the extend, and remux to TS once the transcodes are done
- muxing will likely time sync, and while the CPU isn't technically active, it can report as loaded.
When you say takes a lot of CPU, you don't say how much - it can be quite surprising even with HW accelerators how much CPU is still consumed in the overall flow, never mind how much memory it all consumes as you end up having lots of copies here there and everywhere - particularly with stacks like ffmpeg which is designed for offline file transcoding and not live linear video such as a TS stream from your tuner.
I've done such apps for other HW accelerators and its painful connecting up the various pieces while ensuring optimal perf and resource utilization because the default in most apps is to just make it functional.
So all in all - try the transcode of your Extend - it's pretty good.