@brbrock - I both stream and play local music files. My digital front end is outlined on my virtual system page and essentially consists of playing either files recorded in FLAC and stored on a SSD inside of my sonicTransporter i9 (Gen 4) server, or music streamed from Tidal or Qobuz over Roon, with the i9 serving as Roon Core and a Sonore Signature Rendu SE Deluxe Optical as a streamer and Roon Ready player.
Streamed music and and files played from my local library sound so close to each other that I have not spent time trying to discern whether I can actually and consistently hear a difference.
Mojo Audio DACs are PCM based and as mentioned on their website,
"Our Mystique X digital-to-analog converter converts PCM format files up to 24-bit 192KHz via Femto clocked USB, coaxial S/PDIF, or balanced AES."