How to Determine the Correct Physical Extent Size to Use When Creating a Volume Group

Hello, I am wondering if there is some kind of a formula that can be used to derive the proper physical extent size to use when creating a volume group when working with LVM. Everything I’ve read just says that the default is 4 MiB and you can specify a maximum up to 128 MiB. But there is never any elaboration on how to figure out what size to use. Thank you for your time and I look forward to hearing from you. Have a great day.