My understanding is that HEVC (aka h265) can provide roughly the same video quality as h264 in roughly half the space, for 1080p+ footage. I have a large collection that I would like to re-encode to reduce my storage needs, and am trying to determine the "best" compression options to use. I understand that "best" is very subjective, but generally speaking, my goal is just to save as much space as I can while (ideally) not reducing visual quality by a noticeable / perceptible amount.
I'll be using Adobe Media Encoder (w /a GPU). My collection is recorded at 1080p, between 35 & 45MBps.
For instance: if HEVC can be expected to yield comparable quality in half the space, does that mean I could compress a 40MBps h264 video to 20Mbps h265 (50% bitrate), and expect visually similar results? And therefore if I wanted to really minimize the risk of noticeable degradation, I could set the encoder to, say, VBR target = 70% of the source bitrate (28MBps), with a max a bit above that?
Are there other things I should consider when setting up the encoder? Other relevant options: Quality (from highest/slowest to lowest/fastest), Use Maximum Render Quality (checkbox), Render at Maximum Depth (checkbox).
Any guidance would be appreciated :)