That’s the accepted standard. In XLD it even says “Normal” compression. This is what manufacturers test against, so I would stick to that.
I rip to ‘uncompressed’ flac files (available in dBpoweramp), for it reducing the payload of the processor
I’m going through the identical process.
I ripped my entire collection about 15 years ago to MP3. I still use those files for the car via my iPhone.
I’m now re-ripping my CD collection. I rip to WAV using EAC then encode to FLAC using flacdrop.
For DVDs I use DVD Audio Extractor and again rip to FLAC. Nice to have 96/24 versions where available. And the 6ch version as well as 2ch.
For SACDs I am using iso2dsd to rip to DSF via a hacked BR player. Again I rip both the 2ch and 6ch separately. 6ch DSF especially takes a lot of disk space.
I guess you need at least MacOS Mojave. Just select a track and press spacebar
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It works for me in High Sierra