Imho there are two issues. First is distances between dropouts (i.e. over locknut distance), second is rim diameter. Given the nature and vintage of the bike I would not like to guess what the o.l.d's are front and back, but if you measure them perhaps we can figure out whether they match any modern hub axle width and if not what can be done. Fyi modern o.l.d's are 100mm front and 120mm (track), 130mm (road) or 135mm (mtb) back. You might end up having to build new wheels using old hubs, or possibly cold setting the frame.
Rim diameters are in the late great Sheldon's
database. I suspect subject rim is that of ISO 597mm. If so from the tables you can see that it is 25mm smaller than a modern 700c, 26mm larger than a 650c and 38mm larger than a modern 26" mtb rim. However it is only 7mm larger than a 590 rim which though hard to find is still
available. If I were you what I would do is to examine the brakes' range, and see e.g. whether the pads can be adjusted up by 1.25cm from the current centreline, if so 700c will work if there is enough frame clearance for a corresponding larger tyre e.g.
If the brakes don't have enough range for the desired rims, options exist to explore replacing them with shallower or deeper drop brakes, the options available are dependent on what is current there and what the frame can accommodate, and more details are required.
Hope it helps.