All Media & Storage settings explained

Disable big image functionality (RECOMMENDED): Disables the “big image” functionality in WordPress. This prevents WordPress from generating additional image sizes for large images uploaded to the media library, which can save storage space and reduce server load.
Remove additional image sizes (medium_large, 1536x1536 and 2048x2048): Removes additional image sizes generated by WordPress. This can further reduce storage space usage by eliminating unnecessary image sizes.

Native Lazy Loading: Determines how lazy loading is handled for images and <iframe> elements. Enabling this option forces native lazy loading for all content images and <iframe> elements, improving page load times by deferring the loading of off-screen images and content.

Leave unchanged (inherit value from theme): Keeps the responsive image behaviour as defined by the theme.
Force responsive image srcset functionality: Enforces the use of responsive image srcset functionality, ensuring that images are served in appropriate sizes based on the user’s device screen size and resolution.
Remove responsive image srcset theme support: Removes support for responsive image srcset functionality from the theme. This might be necessary if you’re handling responsive images differently or if your theme already provides its own implementation.

JPEG Compression Level (WordPress default is 82): Sets the compression level for JPEG images uploaded to WordPress. Higher compression levels result in smaller file sizes but may reduce image quality. This option allows you to adjust the compression level based on your preferences and the specific requirements of your website.