#1 When you have to make a sentence of the following sentence, which I made, using MUCH, what would you make?
The elderly lady cherished her dog very much as if it were her child.
If you removed the "very much" this would sound fine but the "very much" when added (while not grammatically wrong) makes the sentence awkward to say.
If you wish to include the "very much" I would change the sentence to two sentences:
The elderly lady cherished her dog very much. It was as if it were her child.
#2 would you improve the sentence using nothing is more
Nothing is more important than to maximize what you were given.
The sentence is fine although some people might wonder about the meaning of "what" in the sentence. However, the context of the other sentences in a paragraph using this sentence may provide a clue. As a stand-alone sentence the "what" refers to your natural abilities (your looks, intelligence, etc)
Would you please proofread the reported speech that I changed the direct speech into?
Tom said, “I play soccer here every day.”
Tom said that he plays soccer
there here every day.
Tom said, “I finish reading this book yesterday.”
Tom said that he had finished reading that book the day before.
Kate said, “I have seen the movie three times.”
Kate said that she had seen the movie three times.
John said to Kate, “I will give you this book tomorrow.”
John told Kate that he would give her that book the next day.
Ms. Suzuki said, “Light travels faster than sound.”
Ms. Suzuki said that light travels faster than sound.
Kate said to me, “Where are you going next Sunday?”
Kate asked me where I was going the following Sunday.
I said to Kate, “What did you do this morning?”
I asked Kate what she had done
that this morning.
Tom said to me, “Do you know my address?”
Tom asked me whether/if I knew his address.
(both whether and if are correct)
Kate said to us, “Shall we go on a picnic tomorrow?”
Kate suggested to us that we should go on a picnic the next day.
Mr. Tanaka said to us, “Open your textbooks to page nine”
Mr. Tanaka told us to open our textbooks to page nine.
Kate said to me, “What a nice T-shirt you wear!”
Kate
exclaimed to me that I wore a very nice T-shirt.

Kate told me she really liked the T-shirt (that) I was wearing.
My mother said to me, “Study in your room.”
My mother told me to study in my room.
Kate said, “I started to live in this apartment five years ago.”
Kate said that she had started to live in that apartment five years before.
Personally though, I would use "living" instead of "to live"
I said “Thank you very much”