vlc likely will not play the main feature.
Out of curiosity, what makes you say that? VLC should have absolutely no problem playing a high bitrate x264 file in an m2ts container, in general. If it’s a matter of the hardware not being good enough, I’m not sure that other software will solve the problem, but perhaps it will!
What Bluto said below (or now above 😉) - I also have some experience of vlc player refusing to play the njvc iso files too, whilst the Leawo software plays it well.
(and that’s not knocking the vlc player - which is a superb piece of free kit)