You should consider how your story is. Is it heavily plot-driven? Then try going for the third person. Are your characters the main spice in your story? Go for first-person and switch between the characters.
My story is heavily centered on tricks and schemes so I usually go for first-person and switch the POV between characters quite a bit. From the main character, the support, and even the person who the tricks and schemes are being played on. Had I done all this in third person then it wouldn't have been any fun to read.
Most LitRPGs tend to go for first-person because their stories move based on the choices their characters make. Maybe they are reincarnated in a game and know too much about it? Maybe they are masters of the grind? Or, maybe they are just witty in general? It will be difficult to express these things in third person without filling it with text but becomes much easier in first person.
Similarly, if your character is comparatively impassive and the story only moves because of how they interact with others, one won't be able to write it in first person naturally.
If you consider what kind of story you are writing, choosing the right perspective will come naturally! All the best!