The LiteSpeed Cache plugin for WordPress generally comes with rather sane default settings, without having to tweak much afterward, however, a few settings are recommended.
LiteSpeed Cache -> General: Request a Domain Key.
[1] Cache -> Cache Mobile: Off -> On (Only if your site is not responsive or if your site relies on "Mobile detection"-logic)
[1] Cache: -> Drop Query String (Already set by default if installing v3):
fbclid
gclid
utm*
_ga
[3] Purge -> Auto Purge Rules for Publish/Update: Ensure "All pages" are UNCHECKED
[3] Purge -> Serve Stale: Off -> On
[5] ESI -> Enable ESI: Off -> On (Only if your site relies on WP nonces)
If you use WooCommerce, go to the "WooCommerce" tab:
Product Update Interval: Select Purge product and categories only when the stock status changes. (Only if you use WooCommerce, and only if your site doesn't rely on quantity).
[3] Optimization Settings -> Remove WordPress Emoji: Off -> On