[1] https://obsproject.com/forum/resources/branch-output-streami...
The common case for the plugin is to do some preprocessing before importing the video into OBS, but you can also use the pipeline as a video filter, which is really powerful, because you can inject a filter into not only a single source, but also at any level of a nested scene. So you can scale/composite several inputs together and then the video filter can copy the source stream and encode/tee it to a file output. Might still be considered a hack of sorts.
I wonder if the "modern" way for problems of this nature is to fork the open-source repo and ask your favourite agent to strip it down to bare essentials that you need (performance gains) and add the specific feature enhancements you want (needs to work only for your configuration -- may not pass the quality standard needed for a PR)
People streaming things mights disagree.