Note that PNG compression is different from JPG compression. See https://imagemagick.org/script/command- ... hp#quality.
What format is your input? If it is compressed highly such as JPG, you will not be able to get a PNG compression to the same file size.
Please say a bit more about your input. Or provide the input image. Or provide the information about it from identify -verbose yourimage
See also https://imagemagick.org/Usage/formats/#png_write
PNG does not support JP2000 compression.
Please do not double post. I have deleted your duplicate post.