The video is typically subsampled at encoding at capture resolution, but it is also subsampled at other encoding resolutions. Because the whole point of subsampling is to be taken into account during encoding, and encoding itself needs not to vary depending on whether the source was downscaled or not.
So video codecs most of the time work with some subsampled chroma components. So your encoded 1080p might be able to render after decoding only e.g. 540 lines of those components, while with the 4k stream it might be: 2160/2 => back to 1080.
Edit: but to be clear, I'm not advocating for people to choose 2x stream and start watching 4k on FHD screens in general, that would be insane. Chroma subsampling is used because the eye is less sensitive to those colors.
So video codecs most of the time work with some subsampled chroma components. So your encoded 1080p might be able to render after decoding only e.g. 540 lines of those components, while with the 4k stream it might be: 2160/2 => back to 1080.
Edit: but to be clear, I'm not advocating for people to choose 2x stream and start watching 4k on FHD screens in general, that would be insane. Chroma subsampling is used because the eye is less sensitive to those colors.