MJPEG decoding + H.264 encoding

Is it possible to run a live transcoding pipeline consisting of 1080p30 MJPEG HW decoding followed by H.264/5 HW encoding, ideally using GStreamer, on Edge-V (or even VIM3)?

I need this for streaming a defence training session on-body camera feed.

Is is feasible to run the transcoding pipeline at 30fps?