Upscale DVD to 720p

either use lower bitrate in TVAI when you export or use Handbrake free tool to encode your processed TVAI video (prefered method) to a smaller size.
I would suggest the following settings to start with in handbrake. this would reduce your file size dramatically with hardly any noticeable quality lose

Constant Quality (RF): you can set the values between 0 and 51, where lower values would result in better quality, at the expense of higher file sizes. Higher values mean more compression, but at some point you will notice the quality degradation.
28 is the default for x265. 24 should be visually transparent; anything lower will probably just waste file size.
If you’re unsure about what CRF to use, begin with the default (28) and change it according to your subjective impression of the output. Is the quality good enough? No? Then set a lower CRF. Is the file size too high? Choose a higher CRF. and so on, until you find your perfect balance. A change of ±6 should result in about half/double the file size.
To avoid time consuming, do not encode your entire movie to find out the balance quality/file size and wasting tons of time.
Use LosslesCut tool and cut off like 1-to-3 min from the movie (creating a 1 min to 3 min clip from your original movie) and test your CRF/FR values on the 1-3 min clip. that way you will save tons of time.
You can also cut few 1-3 min clip sets from different sceneries in the movie (like night time, day time, slow moving scene, fast moving scene, etc) and run it on all clips. that way you will find what FR setting suits best for all scene type(s) of your particular movie (usually this RF settings you found would be suited for all your future movies).

You can use the Video-Compare tool (watch the video) to compare results easily.
could be Downloaded here.

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