Video decode is usually handled by the GPU. The Nvidia GPUs from the 600s and newer, and Intel integrated GPUs on Haswell (4xxx) and newer should be able to do hardware decode of h.265. Just make sure you've updated to the latest drivers. On older hardware, it'll end up being decoded in software as the hardware isn't set up to decode it.
Encrypted video streams like Netflix or Hulu are different. Hollywood insists that on a general purpose computing device like a PC, that those video streams must be decoded inside an encrypted virtual machine. Since the VM is encrypted, it can't send the video stream to the hardware on the video card. Consequently, decoding those videos is done entirely in software on the CPU.