Hi, this is not a very important question, but I want to know if that's a license issue, as ImageMagick is Apache 2.0, and the only component this application use only "convert.exe", you may be able to save some space by remove unused files, and you can further reduce the size by using an earlier version of "convert.exe"(not recommend tho, just a silly idea).
The reason behind this topic is cause I have some notebooks that have very limited EMMC storage, sometimes size matters.