I believe I have found the solution for HLS:
In Safari > Advanced > Experimental WebKit Features, enable the following
GPU Process: Canvas Rendering
GPU Process: Media
GPU Process: Video Capture
GPU Process: WebGL
WebGL via Metal
Note: Unfortunately, this does not solve loading standard mp4 files in Safari. The load time is still over 10+ seconds before visually rendering
Topic:
App & System Services
SubTopic:
Core OS
Tags: