Are there any advantages with using H265 over H264. Is the quality of the video the same or does one look better than the other

265 is more compact and hence require more (much more) computer/GPU power to decode. Quality wise they are about the same, mostly  different compression algorithm.

Hello there. Good day and thank you for the inquiry. For reference, I will post a DJI Forum Link ( https://forum.dji.com/thread-217915-1-1.html ) with regards to this matter. Thank you.

The quality of the H265 is better and the file size is smaller but if you don't have a specific GPU that can decode it, your CPU won't be able to decode the signal fast enough to watch the video on your computer. It works great on computers with the right hardware but is unusable on older or lower end systems.

Higher frame rates will require H265.