I have worked in private offices, team spaces, and open plan.
Having a private office was great, but a team space I shared a few years ago - rented just for that team, for around three months - was astonishingly productive for all of us, with almost none of the downsides of open plan.
As far as open plan goes: it is worse for mental health, productivity, and creativity. There is ample evidence to support those assertions ( https://theconversation.com/a-new-study-should-be-the-final-...).
The only advantage open plan has is that it is cheaper, per person, than any alternative - if you only factor in the cost of office space.