Oh, I thought we were talking about Jellyfin's "extract subtitles on the fly when playing", which I think is how it works by default, which is what I described before.
If it's a async process that runs on import/update of the library, that sounds great. I'm guessing we're/you're talking about Bazarr then? Although I don't see it explicitly mentioned in this thread earlier. Or some other application?
There's an official plug-in called "Subtitle Extract" that does it in advance, no need for Bazarr :)
You can use this and then block embedded subtitles on a per-library basis, which is what I vaguely described a couple of posts up.