720x480i to HD upscale settings?

Hello All,
I have our vacations video in 720x480, 29.97fps, 1.19:1 SAR, Display aspect ratio 16:9 format (raw file captured directly from video camera).
I want to upscale it to full HD. After I select the file in Video AI v4.0.1, I select preset “deinterlace and upscale to HD”.
It gives auto suggestion to use Chrono fast and Dione DV filters.
Output resolution 1920x1080, Original pixel type and Crop setting as “letterbox/pillarbox”.
Of course final output on my 55 inch LG 4k TV is like a box in the centre.
I want to:

  1. retain 16:9 display aspect ratio
  2. should I use other filter for enhancement?
  3. should I select custom resolution out setting? If yes, then what values?

you need to choose Square Pixel type and not original Pixel Type