Recent LE12 nightly builds (since this PR) now support bwdif deinterlace, which has had recent neon optimisation in ffmpeg.
The quality of this deinterlace is much better than the previous firmware accelerated bob deinterlace.
In fact it's generally thought to be better than yadif.
See here for deinterlace comparisons.
bwdif is shows as "Bob-Weave" in the table.
To use it you want to disable settings/player/video/Allow hardware deinterlace with DRM PRIME
which allows the better quality software deinterlace to be used. We may make this a default option if feedback is positive.
You really want a Pi4 for HD resolution (Pi2/3 should handle SD).