Hasleo Backup Suite V5.5.2.1 Released!

[al3x]

The source disk size was 238 GB, plus or minus, for both at the time of imaging, so I do not understand why the HBSP image size was 7 GB larger, since my uncompressed pagefile.sys file is only 4 GB.

There might be differences in size on folders like C:\System Volume Information. If I remember correctly you stated somewhere that you disable all filters on HBS.
So there might be useless Windows snapshots in that folder that got saved together with your backup.

If you care to find out, you could mount both backups, HBS and Macrium, and compare sizes of the drives with 2 instances of WizTree, a software that will give you a quick overview of the biggest folders in a treeview.
Make sure to start WizTree as admin on both instances so you won't have problems to scan system folders.

I used this a lot to spot differences in backup sizes in the past.