That's only 7th Gen Intel so you wouldn't get the "nice" hardware video encoding to minimise the work the CPU does.
There would be no point whatsoever in buying a microserver to use as a storage box and then pointing a stand alone hp at it. The performance levels wouldn't be worth the additional expense or liabilty of 2 second user units running and as detailed, the HP servers really aren't "that" great at storage as they are only 2xSATA3. If you were swaying that way I'd say just go for the Microserver and slot in a low profile nvidia p620 for hardware transcode.