After announcement it would be lossless offer streaming and Dolby Atmos for its listeners, Apple has now noted that its HomePod and HomePod mini will gain support for that lossless audio in a yet to be determined future announcement.
Currently the speakers do not support lossless audio, only Dolby Atmos for Apple Music, also called Spatial Audio. With that update, you can ultimately enjoy an immersive sound experience if you choose to invest in a pair of speakers. Apple has not yet provided a timetable for that update, but we hope it will be sooner rather than later so that customers can enjoy Apple̵
However, Apple’s AirPods and AirPods Pro will not support Apple’s lossless level, as the current Bluetooth standard cannot support that format. AirPods Max can support lossless audio, but customers will need a cable (like Apple’s Lightning to 3.5mm audio cable). So if you’re an audiophile and a fan of Apple Music (and its HomePod speakers), you can schedule a high-quality listening session. Finally.
Source: Apple through MacRumors