Hot or cold wallet has different technical characteristics and use cases and depends on your personal need, you will choose a best wallet for yourself.

How do I choose a wallet?
Choose your wallet with filter for OS, demands on privacy, security, custodial, open source

Open Source Hardware Wallets[/url]

[GUIDE] How to buy a Hardware Wallet the right way

Wallets supporting Taproot[/url]

Multisig Wallets[/url]

Bitcoin open source wallets that support replace-by-fee (RBF)

If your need is simple, don't want to run a Bitcoin full node, Electrum is a good choice. You can set up a multisig wallet with Electrum wallet software too.
[Guide] Verify and download Electrum wallet
Creating a multisig wallet