I share in the following view of many other professional photographers/digital imaging professionals...

If you shoot in RAW, save your RAW files as well as your "converted to JPG" files.  Choose level 10 quality duting the conversion.

If you shoot in JPG, always save your original files, then save your edited files as level 10 JPG.  Should you need to make another version or edit, do so from the original file, not the already edited one.  Never save over the original files,  Instead, rename edited versions.

Saving in JPG is fine, just use the highest quality level (lowest compression level).

Saving to a lossless/uncompressed file format will NOT improve quality to a decernable level if you folow the above methods.  It will however cause your files to be unnecessarily large.