Bulk image optimization can save a lot of time, but it should never start with the whole Media Library on a live site without checks.
Start with backups
Before running a batch, keep original backups enabled. This gives you a restore path if one conversion is visually wrong, a file becomes larger, or a page needs a legacy format.
Test a small batch first
Run 5 to 10 images before processing hundreds. Check output size, image quality, restore behavior and frontend delivery. If the test is clean, increase the batch size.
Clear cache and verify pages
After optimization, clear WordPress cache, CDN cache and browser cache. Check important pages and verify which files are being served to visitors.