Hello Navin Nembhani,
Based on our development team income, this platform can support encode and decode of H.264 but not H.265.
I can't speak for H.265 specifically, but it can definitely decode VP9 running at 1080P @ 60 FPS without any issues at all. I tested this on a VP9 YouTube video running at 1080P/60: https://www.youtube.com/watch?v=_zPm3SSj6W8
Try decoding HEVC Video samples from:
Elecard HEVC Player
Also, try the 4K video decoding on Intel Compute Stick
You may also download the same using the given utility: