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The first thing that I would do is analyse the current requirements of the project, which sections have the worst performance, which can split in small components, analyse the current behaviour and research the best solution for the current project problems. After that, write a report and show to the team, take their opinions and add to the report the new solutions that you colleague suggest. With this report open a side project taking the best of the current project and merge/update it with solutions in that report.
The javascript technologies evolve constantly so no body can garantee that typescript, react, node... still be viable in a couple of years. I think if you need now, learn typescript and improve you skills to do beters and more clean (without bugs) projects, the future is now.