What do you call a huge file size? The last video I put on YT was shot in HD DNxHD 185 at 184 Mb/s. It was rendered and upscaled in Resolve Studio to UHD h265 using Super Scale, at 80Mb/s. The resulting file was 5.07GB for 8.5 minutes, to me not large at all. It took YT just over an hour from upload to producing the 4k version.
H265 is a better quality compression algorithm than h264.
Lets start with that Im not going to upload to youtube or anywhere else. These videos are for 4k screen with my family.
For me huge is 1.6gb for 60 seconds. It was h.264 with no limits.
The best compatibility for every user platform is probably guaranteed by using h264, 8-bit, 4:2:0 and Rec.709 for target format.
The h265 typically uses up to around 50% less space for same quality, but older gear or TV's may have problems (Gran'ma' is probably fully up-to-dat, but her sons and daughters?). HDR and 10-bit formats poses extra problems for ordinary users.
If you let YouTube handle the distribution, you can concentrate on the best quality, that you want to support, and let YouTube handle the conversion to target platforms and their capabilities at any given moment (home WiFi is probably far more capable, than inner city mobile on old smartphone).
Whatever you do, the basic parameters and dependencies are::
Less file space used <===> More file space used
Less quality <===> Better quality
More compression <===> Less compression (bitrate)
Smaller "screen" size <=====> Larger "screen" size
You decide the best compromise, but if you decide to use YouTube to distribute, then YouTube will handle all downsizing, (low) quality adjustments needed or even required, for best possible experience at the receiving end (a highly variable commodity, makes politics straightforward in comparison).
A bit simplified: You decide the maximum possible quality at upload time, YouTube will get all the "bad press", if users have to live with speeds available in old Rome/Italy during vacation (here WiFi my Hotel, April 2019, maybe 100m/yards from the Pantheon) :

WiFi speeds in hotel not fat from Pantheon in old Rome in Italy.
Mobile/Cell speeds were often lower. The reason is probably, that you just don't start digging up anything in more than 2000 years old, inner cities in Europe (or Egypt or... or...). You never know, what you "catch" even if permission is given, and if you "catch" something, you never know, when the work you started could be completed.
As is often the case: There's no free meal ;-)
Regards