I would really encourage blind testing of one's assumptions about audio quality. Foobar2000 has this super nice ABX plugin that can handle automatic conversation to different codecs and or PCM sampling rates and depth from lossless sources. https://www.foobar2000.org/components/view/foo_abx
I can personally recognize full bitrate mp3 (this ancient codec maxes out at 320 kbps where it still sounds colored). This is a well-made pre-configured test https://www.npr.org/sections/therecord/2015/06/02/411473508/...
But move on to anything more modern than mp3, such as Apple's AAC encoder (there's a ton of bad AAC encoders out there) or Vorbis with VBR settings averaging at 256-320 kbps. You'll find it very hard to spot the lossy encodes in a blind test. Opus is astonishingly good at even lower bitrates.