Ideally companies like this that make games keep all the original assets and make things like image format a build switch, for when the parameters change in the future. That said, back then they released on a DVD (I'm reading it would've taken 12 CDs otherwise), I don't believe any higher capacity storage devices were in the pipeline yet at that point. That said, hard drives back then were around the 100 GB mark, so a multi-dvd release would've been doable.
Ironically nowadays, some games (like the FFVII Remakes) are on two disks again, an install and a run disk, despite them having a 50 or 100 GB capacity nowadays.