I use DE:noise from RE:vision effect but that will not adress the wave-like video.
Could try AE's Warp Stabilizer for that.
For the Tracking Error, seen as the horizontal band of noise at the bottome of the Frame, you might be best to Scale UP the Clip a bit (Fixed Effect>Motion>Scale), and then use a bit of Motion>Position, to effectively "crop" off that bottom material. Note, with the Scale, you will also effectively "crop" a bit from one side, or both.
For video noise, I often use Neat Video, but it does take a bit of work, plus adds noticeable time to Renders and Exports.
I played with the scaling as suggested by Hunt. I found at about 103%, it just leaves a clean screen without sacrificing too much contents. Nice trick! Thank you Hunt!
I am not a big fan of Scaling Up, but with the VHS material, that I have worked with, the adjustment was about what you needed, and worked fine. With Motion>Position, one can effectively "crop" the noise out, at about 1/2 of the Scale, as one is Scaling the total vertical (and horizontal), so with a nudge down, to the top of the VHS Frame, the noise is "cut off."
Good luck, and glad that it worked.
PS - with overscan on a TV (even newer HD units still have a bit), more of that noise will likely be cut off, except for broadcast monitors.