Very high bitrate H264+ should look better overall in motion, especially the track but with it being only 8bit you get colour banding in the sky.
at the same bitrate though, both H265 and AV1 are better, and also support 10bit colour. The only reason you'd pick H264+ is to benefit from the extra bitrate, but then you'd probably need the link cable. My wifi 6e router is within touching distance and I can only hold 350mb.
It basically depends how you are connecting, and what graphics card you have.
High speed and fog are a nightmare with the quest. There's still a lot of pros and cons with these headsets at the minute.
My pico 3 is awesome and makes the january track look amazing, but the tradeoff is no edge to edge clarity, a slightly reduced fov, and having a cable attached.
Imagine a quest 3 with QLED, eye tracking and a displayport! I can dream.