I looked at this again today.. I'm displeased because in addition to encrypted media extensions not being available in 1507 LSTB which means Netflix is resolution and bitrate starved, I wasn't able to fix it by trying to install the feature pack for the N and KN editions. So, this basically means only silverlight in IE if you plan to watch netflix on 1507 LTSB.
There is more to say though..
The March cumulative update (maybe one of the other ones as well that goes along with it released roughly round the same time, it's hard for me to pinpoint exactly which because they all went in at once) I noticed on 20H2 that it changed the rendering a bit in a way I didn't like. It basically makes it look like the screen is flickering without actually flickering.
This update goes to 1507 and 8.1 as well, so if you notice anything changing, that's why.
So this is a problem now, because even if you're running an older base build, an update can still update graphics-related components. So what is the solution? To not update like I stopped doing with W7? The next big W10 update isn't till the fall. The April one is still part of the 2004/20H1 threshold.