I could see it being an issue if you were doing a bunch of streaming transcodes, and wanted that in an event loop instead of blocking... but
a) you're probably going to want to control the number of simultaneous streams to a low enough number that you could just fork
b) the responsible thing to do when decoding streams with ffmpeg is to disable all formats except your whitelisted format, but still sandbox the heck out of it, because there's been a lot of CVEs where a crafted input allows remote code execution
Sandboxing is going to be much more complete if the ffmpeg process is only dealing with one input fd, one output fd (maybe an error reportint fd), and no network or filesystem access --- you don't want a decoder error to influence media you're encoding/decoding for another user.