It should do a great job. I've just finished my new build for Jellyfin (migrated from Plex). I have i3-12100 and 32GB of RAM and Jellyfin works great on it.
Its more than enough computer performance for those tasks. If it comes with a case, memory, storage, etc. It's not a bad price. It has an Intel integrated GPU with QuickSync Video which is good for Jellyfin hardware accelerated transcoding.