Some of the higher end nVidia cards will.
Which HDMI audio formats do NVIDIA GPUs support? | NVIDIA
I've cut the cord, and I prefer to just use my XBox One. Has Netflix built in with a good interface. Plex is available, as is Kodi (I've heard). I also run an Amazon firestick with Kodi and some add-ins. Firestick has a cool Android App that lets you use the phone as a remote which is handy to use the keyboard vs. arrows & clicks when searching.
Are you looking to use the PC as a media server? Stream from the web?