HomePod and Homepod mini users will be able to play lossless audio via Apple Music from their devices. The feature will be added as part of a future software update, according to a support document (spotted by MacRumors). However, that same document reveals other places that will not benefit from the new feature.
Lossless Audio Not Coming to Apple Music Radio, but HomePod and HomePod Mini Will Get Software Update
According to the FAQs document:
HomePod and HomePod mini currently use AAC to ensure excellent audio quality. Support for lossless is coming in a future software update.
It also outlines a number of other places where lossless is available, such as Apple TV, and where it isn’t – Bluetooth devices and wired AirPods Max. One part of Apple Music not offering lossless is its own radio stations. This includes both live and on-demand content from Apple Music 1, Apple Music Hits, and Apple Music Country. Music videos will also not get the feature.