I wish I had done that. I originally bought 2 8TB disks (one for backup) and thought it would fill up quickly with MakeMKV so I elected to compress most files.
My first round of DVD rips were done with Handbrake and some kind of compression, plus some selection of audio, which I think might have recompressed the audio too. I think I ripped maybe 60 DVDs this way. Then I discovered that some of my rips really didn't look very good on larger screens. Ouch. While searching for "optimal compression parameters", someone here recommended MakeMKV. I tried it. Easy. FAST. SO MUCH FASTER! Because it doesn't waste any time doing recompression. Plus it gives me all of the original data from the disc.
Over the next few months, I replaced most of my recompressed rips with direct MakeMKV rips instead. Movie by movie. TV show by TV show. I did the ones I liked best first. Now, several years later, I have a few left overs that I never got around to. Very, very few. Apparently I don't really watch those movies, so I haven't gone back to the original discs again to re-rip them.
This, and ripping my CDs to AAC, and then FLAC, taught me the lesson: Never (lossy) compress audio. Never recompress already lossy audio or video.
So you can do it. Just start pulling discs out. The ripping really doesn't take that long on most titles.
Brian.