Convert MP4 to MPV
Converting .mp4 video files directly to .mpv format.
How to convert mp4 to mpv file
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Even though your options are limited, it is certainly possible and fairly simple to convert MPEG-4 Videos to MPEG-2 Elementary Stream Videos (.mp4 to .mpv conversion).
We are not aware of many reliable solutions for such conversion. It seems your best option is to use Adobe Premiere Pro, which is capable of importing MP4 videos and exporting them in MPV format.
Associated software - mp4 to mpv converters
A timeline-based video editing software from Adobe