If ffmpeg_static is enabled, the build procedure will download and compile an old version of ffmpeg (v4.4.1, latest is 5.1.2). I believe this was necessary at one time because newer ffmpeg versions were incompatible with Tvheadend.
Without ffmpeg_static, Tvheadend by default will look for libav (which is provided by the ffmpeg package installed from your distribution). If that is not installed then transcoding using ffmpeg will not be available.
Although some folks (including me!) use '--disable-ffmpeg' when building Tvheadend, that option is not in the configure script; the correct one is '--disable-libav'.
Turning off the various other options is mainly about housekeeping, reducing the build time and size of the binary.