It can't. As I understand it; only  RTX 4050 and upwards can do AV1 HW-encoding.Here's the specs on the iGPU.

I never used OBS before, so I did a test: https://youtu.be/L9Teu0GRfD4Only difference I'd notice when recording h264 was a little more compression artifacts (blocks) when recording with the NVENC than the AMD. Recording HEVC was lagging on AMD  but n...

Only if you do a lot of video-encoding, game capture, or broadcasting.

I run a 7900X3D with a RTX3070, and the iGPU is way faster at encoding than the NVIDIA.Probably because the PCI is bottlenecked by my M2.