would this setup be acceptable for an in-home dedicated jellyfin server?

[bitmap]

You'd be better off with something like one of these:

* OptiPlex 5060 Micro (i5-8500T low-power)
* OptiPlex 5060 SFF (i5-8500)
* OptiPlex 7060 SFF (i5-8500)

All close in price to where the one you listed is, but significant performance boost as far as QuickSync transcoding goes. They won't blow anything off the map, but a 4th gen i5 is going to offer basically nothing as far as that goes. And for the RX550 price you have there, you could boost that a little bit to ~$150 for an Arc A380 and essentially add every codec out there (save for some older ones, like VC-1, H264 High) plus AV1 encode and decode.

Be careful getting a SFF PC and a 3.5" drive. I have an OptiPlex SFF and they have no 3.5" drive bays. In fact, they essentially have a single 2.5" bay with optional additional hardware to expand that to hold two 2.5" drives. You're at a bit of a critical point in the decision-making process here -- where are you going to be storing this, what's your end goal, and what's your budget? I see a Bluray drive there, so I assume you'll be ripping your own movies, which you will likely want to encode so you'll want a capable iGPU or dGPU.

Keep in mind you don't have to do everything now, but you'll likely want to plan for the present and for the future (e.g., get something with multiple 3.5" bays for HDD or other peripherals).

To start with? I'd look for a box that can handle basic transcoding and ripping. If you can spare the space, you might see if there's a small ATX OptiPlex that could saddle in a dGPU of your choosing (the A380 is great if you're going with Linux) with multiple free drive bays and enough SATA connections for what you hope to do. The drive you picked out is definitely good, though you don't need high speed for any of what will be going on so you might be able to save a bit on that front if you keep an eye out.

EDIT: Forgot links...

Micro: https://www.amazon.com/Dell-OptiPlex-Com...B07M9WB5J5
7060: https://www.amazon.com/Dell-Optiplex-i5-...B07HZ3SR3T
5060: https://www.amazon.com/Dell-OptiPlex-i5-...B09X63S6Z9