Should I transcode footage for Resolve Studio 17 ?

I am using Resolve Studio 17 and my camera is the GH5s. The footage is in H264. With Resolve's optimized media, should I still transcode to DNxHD or ProRes before editing and grading in Resolve? I do like to color correct and color grade my footage.

Not sure 'should' really applies here.

My 'preference' is to use Optimized Media, Cineform at 1/4 resolution, for H.264 originals.

Without knowing all about your hardware, GPU in particular, it's impossible to advise on this.