I've found it much easier to increase your viewing distance for an equivalent effect. All else being equal this provides the additional benefit of reduced eye strain from a decrease in parallax.
For example, I've settled on ~160 PPI viewed at 100cm as my optimal desktop solution. It has an identical perceived pixel density as ~220 PPI viewed at 75cm.
Use a PPD (pixel per degree) calculator to find a setup that suits your needs: https://qasimk.io/screen-ppd/
I was forced to do this as my eyes have aged and I can't focus at 5K 27" at a reasonable distance, and can't read the text when I sit far enough back to focus. Hence why 4K 27" (~160 ppi) has become perfect for me.
Would be nice if Apple supported non-integer scaling so I could just dynamically resize everything (without the current technique and performance hit/blurriness of upscaling then downsizing).