As topic says, can I connect PC and Xbox by Ethernet (connected via router) and use Xbox's CPU/GPU to encode stream and send it to Twitch? I have Xbox One S.
You might want to ask this in an xbox-related forum or help site. This forum here deals with the software OBS Studio, not with the streaming capabilities of an xbox.
For the record though, no, you can't. You can only use the streaming capabilities of the Xbox to stream content on the Xbox itself, and only content that allows streaming. (Some games, not movies or media).
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