The table 'media_storage_file_storage' is very big.
Can I truncate this table if I use "File System" as "Media Storage"?
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As per this Doc I think you don't have to do anything. Just change the storage system and click on the Synchronize button below
Then also take a backup of the entire site and set-up on the local system and do it. And see if it working or not.
Thanks Happy Coding
Use a database for media storage
On the Admin sidebar, go to Stores > Settings > Configuration.
In the left panel, expand Advanced and choose System.
In the upper-left corner, set Store View to Default Config to apply the configuration at the global level.
Advanced configuration - storage configuration for media Storage Configuration for Media (Database)
Set Media Storage to Database. Set Select Media Database to the database you want to use. Click Synchronize to transfer the existing media to the newly selected database. Enter the Environment Update Time in seconds.
When complete, click Save Config.