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You can set the recording format before the recording to better values. Sound takes little space compared to the video. H265 and av1 should be the most optimal video formats available. Reducing the video resolution also helps reducing the filesize. after the recording you can also reduce the filesize with ffmpeg, which can be better, since reducing the size after recording lets you get the best quality with the lowest filesize, since reducing the filesize is easier, but once it is reduced you can't revert it.