In a somewhat-related topic, you might be interested in DLSS [0], where machine learning is being used in graphics rendering in games to draw the games at a lower resolution, then upscale the image to the monitor's resolution using a neural network to fill in the missing data. I imagine a similar thing could be done with video rendering, though you'd need some crazy computing power to train the neural network for each video, just like DLSS requires training for each game.

[0] https://en.wikipedia.org/wiki/Deep_learning_super_sampling