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Both quality AND space needed.
A high end Intel PC (11th gen i7 laptop) cannot play it via VLC but QT on M1 Macbook Pro does, not too surprised.
A quite short clip takes several GIGS of space as expected. I mean you're basically taking 24 8MP raw stills every second AND recording audio...

To get it NOW you need Filmic pro, but it's available for the taking.