I'm currently trying to decide on what specific profile setup is the best for my use case, but so far there doesn't seem to be a very clear de-facto choice.
Currently, I have the owner, my daily driver (that has open source apps) and my "goolag" (for everything requiring Google Play Services).
Problem is that things like contactless pay, student ID, public transport etc that I use daily would then require that I constantly switch profiles.
The privacy gains in this setup also don't seem as worth it since play services is effectively an app in GOS anyway, and each app has sandboxing.
This leads me to conclude that profiles don't have much security benefit outside of sharing the phone with other people or concealing certain activity from someone with physical access.