I want to add a little.
Back in the pre-async USB days there seemed to be an argument that coax was a better option to optical because of lower jitter. I think this was due to the quality of the receviers and transmitters, not really a format problem. Coaxial was often preferred except when there were ground loop issues.
Coaxial could be galvanically isolated but wasn’t always, like USB today.
I don’t think there’s any credible argument that coax outperforms async-USB in terms of jitter today. USB of course is the only choice for very high resolution formats and DSD.