There are actually two parts to your question as I see it, one relating to storage space and another to conversion quality.
For the first part, external flash drives are
very inexpensive these days, and you could easily get a USB (3.0) 64GB flash drive for around US$10. If you do that, you're free to not worry about converting the files before editing them.
For the second part, you can try converting a couple of clips to see if you notice any problems. PD17/365 has a very nice feature in the
Produce module called Profile Analyzer:
When you click on it, it will figure out the best producing format based on your source clips, and then you can produce your sample clip straight away. It's best to watch the converted clip after the original to verify that the content is not visually distracting, as can sometimes happen if the wrong settings are used.
YouTube/optodata
DS365 | Win11 Pro | Ryzen 9 3950X | RTX 4070 Ti | 32GB RAM | 10TB SSDs | 5K+4K HDR monitors
Canon Vixia GX10 (4K 60p) | HF G30 (HD 60p) | Yi Action+ 4K | 360Fly 4K 360°