When chromecasting from UWP transcoded video has poor quality

Summary

Whenever I'm trying to cast video that requires transcoding from UWP, video has bad quality on TV. I tried setting '--sout-chromecast-conversion-quality=', but as far as I can tell it doesn't have any effect on quality.

Minimal project and steps to reproduce

https://github.com/vlasenkoalexey/LibVLCSharp.UWP.Sample_chromecast

Does it work on other plaforms? Does it work with the official VLC apps?

Observe same issue on VLC from Windows Store.

Environment

OS: Windows
Version 10
Device: Laptop x86
LibVLC version and architecture VideoLAN.LibVLC.UWP/3.3.0
LibVLCSharp version 3.4.6

To upload designs, you'll need to enable LFS and have an admin enable hashed storage. More information