It
should be fine. The issue above is mainly about a browser's ability to play H.265 (aka, HEVC.) Despite being an improved standard, many modern browsers apparently still don't handle this codec. However, YouTube should be able to read it and convert it to their own browser compatible format. In general, you should upload the highest quality available with a reasonable file size because YouTube is always going to recompress it to play efficiently on their website.
Here's list of the new video formats...
I haven't tried all of them yet but here's what I know or can guess about them...
MP4 (MPEG4) is
H.264.
MP4 (H.265) is obviously H.265. This is a higher quality codec with better compression. It should be compatible for streaming sites and many video editors. I use the 10-bit option for Vimeo, which gives me very accurate colors and black levels. (In other words, I no longer need to apply a special Computer RGB to sRGB levels conversion for YouTube & Vimeo uploads.)
I wasn't sure what M4V (MPEG4) was so I did a test render and checked the properties. This seems to be H.263, which is an older codec.
The ProRes option is new for Windows users. This is a very high quality codec, and probably should be used if you're going straight to video editing. The file size will be significantly bigger than MP4 but that's the price for quality. I'm not sure which form of ProRes is used here...I'll check later.
I haven't tried the PNG and JPEG video formats but these are probably rendering whole frames to the video container. Use JPEG if you want speed and don't care so much about quality. This is fine for reference videos or proxies where you need frame-by-frame accuracy. (You generally don't get frame-by-frame accuracy with
H.264.) If you're compositing with videos, use PNG with the Alpha. Because PNG is a lossless codec, the quality is very high compared to the above, but the file size will be larger. (This is just my assumption; I'll check this later.)
As a general rule of thumb, if you're rendering for compositing programs like After Effects, Fusion or Nuke, you want to render to image sequence, not video. For After Effects, I've always used PNG with Alpha from Moho. The file size is smaller than TIFF or PSD, and it's the same quality.
I have to confess, I haven't checked the manual about these choices and there is probably more info about them there. (Guess I have some reading to do tonight.)