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With a large majority of video now being accessed by people on mobile devices, often on limited bandwidth it makes total sense to adopt the newer H265 compression. The newer codec aims to offer a better image quality at smaller file sizes than H264, it also boasts a lower requirement for bandwidth when streaming. H264 (AVC) is slowly being phased out to make way for the newer H265 High Efficiency Video Coding (HEVC) codec.
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But here is how you can get around it with two simple solutions.
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I do find it odd that H264 has been dropped from the main export menu as it is a widely used format in web and client review outputs. The H264 export option seems to be getting phased out with recent updates of Adobe Premiere and After Effects.
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