1080p120 wherever possible for any MP game in any genre, although most fighting games are locked to 60 at game logic.
If it's a shooter, it's a no brainier that you should prefer 120 over 60. More frames, lower input latency = higher time to react, especially when you're on an inferior input device like a controller for shooters (even with the aggressive aim assist it's inferior to a KBM).
Performance is the primary reason why consoles should only crossplay between themselves and kick pc out of their player pool for matchmaking. 480 FPS on pc vs 120 FPS console is not a fight, it's a disgrace, but the console makers won't block it because of they're afraid of too much noise like last time may make a dent on their stocks, ala Fortnite crossplay controversy, but they don't understand that it was done by mostly console players who wanted to play between themselves and the 3rd parties threw PC into the mix because pc was dying without players and they wanted to save/resurrect the dying pc pool, and now if pc is kicked and the vocal pc minority throws a tantrum, no one would give a fuck, as all console players only want to play between themselves and they're in the millions.