I stream mostly from my Hetzner dedi myself despite from being from the Phil myself. I don’t think there is any improvement via the Cloudflare method (at least from my experience). I do provide VPS from the Philippines hosted from a certain Data Center in Marikina (1GBps Downlink, 250 MBps Uplink). It’s definitely faster to stream from there (but my transcodes require more power so I stream from my dedi in Hetzner instead)… If you only have a need for 1080p transcodes below and you’re the only one using it (no other concurrent connections), maybe you’re interested to get space from one of my Xeon Gold Dedis there.
Get a cheaper Hetzner dedi (there’s a 4770 for roughly 27 dollars right now, apparently), a GSuite subscription and a M247/Cogent based VPS in Asia (cheapest providers in Asia, BW wise). I believe FDCServers, OneVPS and Digital-VM are popular providers who use those networks exclusively.
I’m based in Singapore and zero issues with playback from Hetzner (I know SG has much better international connectivity being a major fibre landing site), maybe try a cheap VPS in SG like Vultr / DO as a proxy for hetzner, you should benefit from the good international connectivity from SG and the fairly small distance from SG to PH (there is a ton of undersea fibre cables from SG to PH)