@ajb2k3 Had the same question and here the answer:
jpeg_div_t scale = JPEG_DIV_2;
// JPEG_DIV_NONE, --> no scale
// JPEG_DIV_2, --> half the size
// JPEG_DIV_4,
// JPEG_DIV_8,
// JPEG_DIV_MAX
M5.Lcd.drawJpgFile(SD, filename.c_str(), 0, 0, 320, 240, 0,0, scale);