Exporting Animated PNG's sequence with H.265 to achieve less weight in Megabytes

Hello Guys,

I am trying to lower the Megabytes of a 5 minutes animated png sequence that contains a lot of shapes and lines in motion. If I try to export Media under the maximum 20 bitrate CBR/VBR 1 pass and Ticked "Use Maximum Render Quality" and "Render at Maximum Depth"  it becomes fuzzy when streamed through a created mobile app or media channel.

My question is:

Is there any other way to lower the file weights (currently at 798 Mb) that the one uses without losing so much bitrate that it becomes a fuzzy moving image when streaming?

Thanks in advance!