I recommend making the archived version of the data using:
1. a sparse-bundle disk-image.
2. the 'rsync' cmd to copy the data to the image.
The sparse-bundle's disk format should match the original. If original is HFS+, disk-image should be HFS+. Ditto for APFS.
The reason for using sparse-bundle is it lets you store the data on any medium, regardless of the underlying format. In other words, you can store an APFS original on a FAT32 disk, or on a NAS, or on a commercial storage service, and nothing will be lost.
When using 'rsync', make sure to use the -E option, and also run it using 'sudo', so absolutely everything is copied to the disk-image. Without 'sudo', original ownership might not be kept.
I also suggest running trials first, using a sparse-image with proper format, but only copying a small number of files, but ones that have extended attributes or ACLs that might be lost if ZIP or Finder-copy were used. This will let you work out exactly what 'rsync' options to use, and confirm that the replica is exact. You can also check exactly what a ZIP or Finder-copy loses.
Here's an example of a folder on my disk with an ACL:
Code:
drwx------+ 4 plover staff - 136 Jul 15 18:32 .
0: group:everyone deny delete
drwxr-xr-x@ 39 plover staff - 1326 Jul 15 18:13 ..
0: group:everyone deny delete
-rw-r--r-- 1 plover staff - 0 Nov 23 2012 .localized
-rw-r--r--@ 1 plover staff - 9686 Jul 15 18:13 Pi-log.txt
com.apple.TextEncoding 15
com.apple.metadata:kMDLabel_3fvqtyttvmel7wfftcnejrwozm 313
The replica on the disk-image should have all the same xattrs, modes, ownership, and ACLs.
Typical examples of folders with ACLs are Documents, Desktop, Library, etc. in a typical home folder.
The cmd that shows all the infor is
ls -leaO@
If saving space is important, then make a disk-image as noted above, then convert it to a compressed read-only disk-image. This will be a single file, unlike sparse-bundle, which is a directory with "band files" of 8MB in it.