Can PE version 14 handle Importing/Exporting of H.265/HEVC video codec?
High Efficiency Video Coding (HEVC) is a video compression standard, a successor to H.264/MPEG-4 AVC (Advanced Video Coding), which was jointly developed by the ISO/IEC JTC 1/SC 29/WG 11 Moving Picture Experts Group (MPEG) and ITU-T SG16/Q.6Video Coding Experts Group (VCEG) as ISO/IEC 23008-2 MPEG-H Part 2 and ITU-T H.265. MPEG and VCEG established a Joint Collaborative Team on Video Coding (JCT-VC) to develop the HEVC standard. Version 1 of HEVC was finalized on January 25, 2013 and the specification was formally ratified as a standard on April 13, 2013.
HEVC is said to double the data compression ratio compared to H.264/MPEG-4 AVC at the same level of video quality. It can alternatively be used to provide substantially improved video quality at the same bit rate. It can support 8K UHD and resolutions up to 8192×4320.
Also, does it support .MKV file format?
At this point, I would say No Premiere Elements 14 (as is) support for on both counts - MKV, the file extension, and H.265 (HEVC), the video codec. There is no mention of it in the Import Supported Formats List for 14.
My initial testing says that Premiere Elements 14 does not support a file with a .MKV file extension and it does not support H.265.mp4.
File with MKV imported into the Premiere Elements 14 project gives error
This type of file is not supported or the required codec is not installed.
MediaInfo called the video codec V_MPEG4/ISO/AVC.
The H.265.mp4 file imported into the Premiere Elements 14 project gives error
The importer reported a generic error.
Each file was 1920 x 1080 @ 29.97 progressive frames per second.
MediaInfo called the video codec hev1
Add On...I also tried a H.265 (HEVC).mkv for import into Premiere Elements 14 project. That brought out the "This type of file is not supported or the required codec is not installed.
I have not attempted to download and install players yet to support H.265 (HEVC).MKV. And, I have not looked into converters.