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I may have found my solution.
Download the 1080p rip that's 220GB
Re-encode them all with this command
ffmpeg -hwaccel cuda -hwaccel_output_format cuda -i Columbo.mkv -c:v hevc_nvenc -preset slow -rc vbr_hq -cq 35 -b:v 0 -c:a copy Columbo_super_compressed.mkv
From a quick run, it makes the filesize around 5 times smaller. Which should hopefully make the final rip about 44GB from 220GB
And while yes, it is compressed to shit, it still looks better than the 20GB 720p rip I got.
If anyone has any tips on the compression or any adjustments to the above script, I'm all ears. Thanks everyone for the help. /wsr/ bros are so based