Can't find Audio Quality options for Lossless

Are you using Apple Music subscription, or do you just have music from your iTunes library on the phone and Mac? I do not use Apple Music and do not see the setting on either my MBA or my iPhone 12 Pro.

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Who knows? I'm also wondering how this is going to work. From my research, most, if not all Bluetooth headphones out there, including AirPods Max and Pro, are not capable of playing lossless audio. Headphones will required a DAC, which is an expensive proposition. And to be honest, most people won't be able to hear the difference anyway,

If you check today, you'll see the option to turn on Lossless Audio is now available in Apple Music. Still not sure what value or benefit it will offer since all the headphones I listen through are Bluetooth. But I will endeavor to see if I feel there is any improvement when I get a chance at home tonight.

My understanding is its coming in June, but hasn't been turned on yet.

What I find interesting is that the support document shown in Related Article, is dated tomorrow!! Back to the Future???