Flac 44.1 16bit level 3. Host with something that meets your needs. I have my files in jellyfin and navidrome and can then access the library remotely either through jellyfin web client, navidrome web client, substreamer, Finamp, kodi, etc. but this way if another amazing format comes up down the line I will always have my library in a good state to transcode from. Tag and sort everything with beets.io (or musicbrainz picard is great, I just like that beets is cli). This results in a library I can access on my phone, laptop, tv, carplay, etc
Technically you could go for 24bit but imo the extra file size isn’t justified. though one could make that argument for flac vs 320cbr mp3, transcoding 320 mp3 is more likely to create artifacts, thus the reason for keeping around flac