When I treated myself to a new monitor, this excellent Asus ROG Strix XG32UCWMG review by TFT Central made the decision for me. Even better, the article includes a reference to a Best settings Guide on Youtube which I got most of below settings from:

• Power Mode: Performance (enables full brightness and control access).
• OLED Care -> NeoProximity Sensor:
  • Distance Selection: Max. 120 cm.
  • Screen Off: 5 min.
• Image:
  • Uniform Brightness: On (prevents brightness fluctuations; turn off for max SDR brightness).
  • Brightness: 40 (~120 nits; adjust to preference: 55 = ~150 nits, 78 = ~200 nits).
• System Setup:
  • Power Indicator Off.
  • OSD Setup -> OSD Size: Normal.
• Everything else on default.