FLV is a relic of the Flash era: the format YouTube grew up on, stranded when Flash died. It was born in 2002, Macromedia (later Adobe), for Flash Player, and its real weak spot is playing anywhere at all since Flash was switched off in 2020.
M4A is AAC in Apple's favorite outfit: the audio-only MP4 your iPhone speaks natively. An MP4 container holding only audio: usually AAC, occasionally Apple's lossless ALAC. That makes it the right destination when what you need is sounding great anywhere in the Apple ecosystem.