MC can use FFDShow when it is available on the computer. You must install it yourself. It can either be installed alone, or as a part of a codec pack, for example CCCP. Read our wiki for more info on FFDShow and CCCP. FFDShow and CCCP are free.
Assuming you have FFDShow installed, you can enable the option "Use FFDShow for post processing". This option is on the "Advanced Properties" page of TV Options. In Television view, click "Configure..." button, and choose "Settings...". Select the tuner device under "Devices", and click "Configure" button. Now you can go to "Advanced Properties" page and check the "Use FFDShow..." option mentioned above.
There is also a different option for analog TV devices. This one is also on the Advanced Properties. "Deinterlacing..." option at the bottom of the list of properties above the FFDShow thing. It however is not guaranteed to work for all devices. You have to experiment with it to see if it works for your device.