They're still working on a game they say is far bigger than BG3, though.
Prior to development on Baldur's Gate 3, Larian CEO Swen Vincke was already planning out the company's future, and this included what he calls "the very big RPG that will dwarf them all."
Speaking to GameSpot at GDC, Vincke explained that Larian's next game also won't actually be the aforementioned "very big RPG," but will be another step toward realizing it.
It's always possible to re-encode video; it's usually called transcoding. However, you lose a bit of quality every time you encode, so you might not gain much in the end. You can offset a bit of the quality loss by encoding at a higher bitrate/quality factor/etc than you otherwise would, but that of course takes up extra space.
20 feet is fine unless you want 4K 120 Hz and stuff like that. I'm which case 20 feet may also be fine with a passive cable, but a bit on the edge of where AOC starts to make sense.
As for 1080p and 4K30 I think 10 meters can work passively.
Edit: My in-head unit conversion was a bit off, 20 feet is probably a bit over what's sensible for 4K120. But it's probably fine for non-UHS HDMI.
Sorry for the nitpick, but you probably mean GB/s (or GiB/s, but I won't go there). Gbps is gigabits per second, not gigabytes per second.
Since both are used in different contexts yet they differ by about a factor of 8, not confusing the two is useful.