Phase: All low pass filters have some level of overshoot. The steeper the slope of the filter, the greater the overshoots.
There are two types of overshoot: pre-oscillations and post- oscillations.
The former are audible as a “pre-echo” arriving before the signal itself, and are the least natural to hear.
You can choose between a filter setting with linear phase, but with an equal level of pre- and post-oscillation or a minimum phase filter, with no pre-oscillation, but non-linear phase distortion.