this post was submitted on 13 Oct 2024
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I'd suggest using IFME (https://x265.github.io/download.html) it does support MKV.
Due to the nature of video, using another codec will have some differences even if it's minimal.
But if you encode the video as AV1 with conservative settings it should be possible to reclaim a lot of that space with minimal impact.
Metadata should be retainable but you'll likely need to experiment.