With Media Encoder people have said you can use them both together. They are both similar but as of now they do not support all the different variations of H.264/265. Intel's new CPUs slated for 2021 should support more variations of H.264/265. In 2021 I would still opt for Intel over AMD because of Intel's Quick Sync features. It is good to have Nvenc and Quick Sync. Keep in mind they both only help for endocding and decoding H.264/265. The video below might be helpful.
Thanks for the reply and the video! So from what I understand it usually comes down to a choice in hardware acceleration settings between Nvenc or quick sync and the only way to use them somewhat together would be through the media encoder while exporting multiple videos with the two different hardware acceleration settings? From what I've researched recently Nvenc is the faster of the two hardware acceleration choices.
Nvenc used to be faster but Premiere Pro is starting to make better use of Intels Quick Sync. I opt to use Quick Sync because my GPU will run hotter using Nvenc. The CPU does not get hot using Quick Sync. Keep in mind even the RTX 2080 will not encode and decode all the variations of H.264/265 but the new Intel CPUs with the IGPU should.
Thanks for the help!
Thanks for the link! It was helpful and informative.