I get Squid Game s03e01 in H265 without a problem (except with ad-based Standard plan)
It is a NF show - so H265 is offered by NF ..
.. but all licensed titles (no NF in-house productions) are not (more) offered in H265.
So SF can't download what not exist - SF has no influence on the NF offer
H265 is obsolete for NF licensed films ..
.. e.g. for all only 540p offered films (Sony + Universal)
since NF switched to AV1 HDR10 - see here
H265 is usually only offered for NF in-house productions.
Germania