Not necessarily overkill, you can run Plex on almost anything. I used to run it on an old NUC6 I had laying around, then upgraded to a NUC8, and more recently I setup it up as a VM on Proxmox on a Ryzen 5709u mini-PC.

Virtualizing it has been good for my purposes since now it’s running alongside AssetUPnP and AudioBookshelf, and I’ve another VM on the host running Home Assistant with still plenty of resources to spare. Crazy we can do that now with a “server” that literally fits in my palm.

But virtualizing it makes hardware acceleration for video transcode be I more complicated, just a heads up. I play everything native so don’t use it, but YMMV.