No, it's not possible. Effects store their coordinates relative to the layer and unless they expose them so they can be multiplied e.g. with expressions, then you cannot transfer them. Your workflow is simply unsuitable.
The only options you have is to use Set Proxy or to use a pre-comp. Here's how Set Proxy works. You import your full size footage to the project panel, right click and select Set Proxy and point to your small footage. The proxy footage will be scaled to fit match the size of the large file. After you do your work on the footage you then find the footage in the Project panel and set the proxy to none and the larger footage replaces the proxy.
To use a pre-comp you create a new comp from the smaller footage, modify the comp to match the size of the larger footage, import the pre-comp into your main comp, do your work on the nested pre-comp, then use replace footage to replace the nested pre-comp with the larger footage.
Neither of these workflows will speed up the editing process because AE will be using the same layer size and the same number of pixels for all of the calculations. The only advantage of using a proxy is that you can work with source footage that has a much smaller file size. For example, say you shot a bunch of 4K footage but you are going on the road and want to continue working on your project on your laptop as you fly across the country. You create and render proxy footage that is 1/4 or less the size of the original files, you set set the proxy for the original footage to the 1/4 size footage and then load up the 1/4 size footage on your laptop. When you are ready to complete your project you simply open the project on a system that can handle 4K and release the proxy.
Thanks a lot Rick
Unfortunately that will not gonna help me with this file that i'm working on. I have tried to understand your pre composing method but can't really figure it out. Is that something that i could apply to my issue? I like your idea of the proxy and i might use it in the future.
My initial idea was placing the liquify effect on the composition containing the image, rather than applying effect to the image itself.
This way i could: go to this composition and scale down my big image replacing the smaller image. After that i could go to my main composition and scale up the composition and then scale up nested composition to fit the screen. But then scaling tool does not add pixels so i don't think that would change anything about the quality of entire footage. its basically just scalling up the same picture i had at te beggining.
You said to place my smaller footage in nested composition. Now we have main composition containing nested composition with the footage. From here I can replace the nested composition with the bigger footage but then everythining that was inside this composition including the effect will just get swapped by the new clean bigger image with no effects on applied to..
I also gave it a go with proxy method but distortion mesh for liquify effect doesn't even show up for the proxy set to the smaller quality image...
If you have applied a distortion mesh to a small layer then you are stuck with that. Your existing work is not transferable to a larger layer.
The pre-comp method is pretty straight forward. You select your small footage in the Project panel and then create a comp from selection. Now you open the comp settings and resize the comp to the size of your large footage. Next you scale your small footage to fit the new frame. I always scale to fit horizontally instead of scale to fit. Now you drop that comp in your main comp and apply the distortion effect to the nested comp. When you are through you select the nested comp in the timeline with the effects applied, then select the large footage in the project panel and hold down the Alt/Option key and drag the large footage from the Project panel to the timeline.
As I said before, using a proxy or the nested comp trick will not save you any time. AE will behave and generate previews almost exactly the same as it would with the larger footage with the distortion effects. The only reason to use a proxy is to avoid having to lug around a ton of high resolution footage while you are working on your project.