Place the following function in your WordPress functions.php and the Vimeo settings will be set to HQ

function custom_vimeo_settings($code){
if(strpos($code, 'vimeo.com') !== false) {
$return = preg_replace('#(//[^s"'<>?]+)#', '$1?quality=1080p', $code);
return $return;
}
return $code;
}
add_filter('embed_handler_html', 'custom_vimeo_settings');
add_filter('embed_oembed_html', 'custom_vimeo_settings');