Plex 4K streaming (direct stream and direct play)

Not sure if Hetzner has IPv6 but try binding your mount to your IPv4 address, Google sometimes limits peering with IPv6 and you end up doing a longer route, pretty sure Hetzner should have direct peering with Google so your ping time looks high in double digits.

Does your current ISP offer a speedtest.net server in your area? If so, try running a speedtest from your VPS server to your ISP server in your area, this will tell you the upload/download speed of your ISP and Hetzner in your area, it might be the downlink from your ISP is fast, but the uplink slow/congested, since it's the other way around you are getting limited.

Finally, if you have a computer to test, try mounting it in your home and do a test there. See if it buffers or not. For 4K the less trip your stream takes the better.