I’m struggling to imagine a use case for removing bits of a video and then saving that intermediate back out without editing or reencoding but if that’s what a video editing workflow calls for then fair play!
you just described pretty much every single modern day video capture. pretty much all of the dslr/mirrorless cameras are capturing a higher bitrate h.264 as source.
And you're going to use a very high bitrate.
This is way more space than consumer codecs use. But still way less than uncompressed video.