Hi Stephen
just did a quick output test with 10bit vs 8bit AfterCodec x264 files, and 10-bit is not really 10-bit, more like 9-bit if my thinking is correct here.
Did a 1024x1024 comp with a ramp from left to right giving 1024 steps (obviously :-P) that should correspond to how many graduations are possible in 10-bits. Importing this file and it will show us as a gradient jumping every 2 pixels, so 512 steps = 9-bit.
That AE says the file is "millions of colors" (ergo, 8bit in outdated Apple QT lingo) might not be trustworth info :-)
outputting a 8bit x264 mp4 file will give a dithered 8bit ramp, and a therefore a larger file than the 10/9-bit file with semi-smooth gradients
So there might be a benefit in using x264 10bit in your case?