The new lossless streaming service for the music playback app, Spotify Hi-Fi, was supposed to begin by the end of 2021, according to plans announced back in September 2021. With its Hi-Fi streaming, we may anticipate far higher quality 1411kbps streaming, but Spotify's current bitrate max out at 320kbps.
Spotify Hi-Fi or lossless streaming for audio files:

Every little detail

OhltsTom on Reddit via Android Authority reports that Spotify appears to be testing what may eventually be called Spotify Hi-Fi, or "Enhanced Listening." A number of screenshots in the article illustrate how the service would operate and what choices the user would have when the add-on launches in the app.

The breach, which was discovered in Spotify's desktop version 1.2.36, implies that customers who have adjusted their download settings appropriately can listen to their music offline in "highest quality" (lossless) format. Additionally, it displays music streaming at 2117 kbps, which may use 15.9 MB of bandwidth every minute.

Spotify further notes that certain tracks that support the FLAC audio format have even 24-bit lossless playback available. The screenshots also imply that Spotify HiFi will not just be available for in-line connections, but will instead be a function called Spotify Connect that enables high-quality streaming within your Wi-Fi network.

While the exact release date of the lossless audio streaming service, also known as Spotify Hi-Fi, for users is still unknown, these leaked photos should provide hope to those who still have hope. There have also been several suggestions on Reddit that it could be nearing completion and that it might make its formal debut at the HIGH END Munich 2024 event.