Just a post here to say that I got YouTube streaming working after about four hours when it should have taken about 15 minutes! I had all the settings in place, and was able to view the video stream via VLC within seconds of turning the encoder device on - but YouTube was a problem.
Here is what was my issue - this might help!
My video camera does not provide an audio output with the HDMI stream. That was fine I thought - only testing at the moment. But without an audio stream, YouTube will not accept the feed and so it wont work.
I set the encoder device to Line In for the audio (I did not have a mic plugged in) and YouTube came online within seconds.
Facebook Live was the help here - it would not go live either without a audio stream but it has a error log on display that said this - so that was the trigger for solving it for me.