raspios_lite_arm64 is out of beta and is a candidate for OctoPi base image.
I was hoping that Ubunbu might become an optional base image, however, it seems like it does not have HLS support:
Rpi saying 64bit is out of beta:
RPi-Distro/pi-gen#481 (comment)
Issue in Ubuntu:
#697
Tested HLS PR working on raspios_lite_arm64:
#784 (comment)