No, I think you're better off using a consistent CRF or a consistent 2-pass bitrate setting. There are other ways to degrade picture quality without using different bitrates - for instance you could resize the scenes surrounding your inserted SD footage to make the transition more smooth, if desired (downscale to a resolution in-between and then upscale it again to degrade the quality).
The credits take up a negligible amount of space compared to the rest of the film anyway. So I agree with junh1024 on that one. For instance, in my encode for Jurassic Park the video file came to 3542.2 MB, yet the credits are only 147.1 MB of that. So by compressing that area of the film further I could only really save an extra 50 or 60 MB and that's being generous. Out of 3.45 GB, 50 MB is nothing.
However, he's wrong about 2-pass. CRF and 2-Pass are equivalent. The only difference is that CRF maintains consistent quality and achieves the desired level of quality, whereas 2-Pass maintains consistent quality and achieves the desired average bitrate. If you have a 2-Pass file and a CRF file that come out at the same size then they will be exactly the same quality. Which you can test yourself easily - set CRF quality to something low like 26 or 28 and encode, then take the average bitrate from the file you just encoded and encode again using 2-pass. The two encoded files will be exactly the same quality - they just came to it using two different routes.
Here's another tip... with 2-Pass you can't know the quality in advance. So my suggestion is you set the CRF to what you want and encode the file. Let's say you want the CRF at 18 or perhaps 19. Encode it and see what size it comes to. If it's well outside the size you're wanting then you should find a way to make the file more compressible instead of lowering the encoding quality to force it to fit the desired size. You could resize from 1080p to 720p for instance. De-grain, De-noise, etc. Once you get it to encode around the right size at the right quality then use 2-pass to get the exact size that you need.