Hi Larry,
Old'ish post, I know, but yes. This would not be on the exported / rendered version. 4K H.264 video is still a CPU intensive task and needs a good machine to edit. This is largely down to the way the codec works and how it essentially needs to reconstruct the full frames on the fly from partial frames (unlike some codecs which just have every frame as a complete frame).
If you're uploading to a standard website, be aware that you probably should offer lower resolutions too. If you're just uploading to a video site like YouTube, Vimeo, Wistia etc. that's a none issue as they will take care of that for you.
Torsten.