Would using image formats like dds be better than png for 4k+ maps?

Would using dds for simple colour and greyscale maps be worth it compared to png in terms of gpu vrm saving for 4k plus maps.

Also can Blender take advantage of mipmap texture lods, if I convert a image to dds can it use the different texture resolutions?

I’m not certain if Blender can take advantage of this but it would be interesting to test. In the stats above the Render Result, you can read how much peak memory was used. Try this for two identical 4K textures, one dds and one png. Personally, I don’t think it will be worth it since dds is such an old format and could be a pain to work with in every other respect!