Recently version 3.0 of the Open Source H.265/HEVC encoder x265 has been released. It builds on the source code of the popular H.264/AVC encoder x264 and continues its tradition of providing an open source, highly efficient encoder for an important video format for the community, which is continually being developed and improved. The development of x265 is funded by the allocation of special commercial licenses.
It thus forms the basis for many other tools that can incorporate the ability to compress video via H.265 video codec using the x265 encoder. The latest version now also supports encoding of high-quality HDR (High Dynamic Range) video via Dolby Vision, which is supported by various televisions and beamers and has a larger color space, contrast and brightness than normal videos. Encoding is also possible using different Dolby Vision profiles, which on request can also generate videos compatible with HDR10 and SDR (Standard Dynamic Range, i.e. no HDR), which can then be played on TVs that do not support Dolby Vision.
If you want to try out the encoding of H-265 yourself, you will find (here Windows Binaries) of the x265 encoder. But x265 is also integrated in the popular open source ffmpeg encoder, which can be found at here (Linux/Windows/macOS).
Dolby Vision Profile 5 HDR vs SDR