Why iTunes downloads don't use HTTPS
wired.com
wired.com
The other Macs and iDevices on your network will detect the caching server and start using it instead of overloading your WAN link every time a large file like a new OS version or OS update needs to be distributed.
Encryption would interfere with caching.
More information on content caching:
https://www.idownloadblog.com/2018/07/17/howto-mac-content-c...
That said, I don't think it matters too terribly much here, and in situations where privacy is much more important, Apple seems to be blowing Google out of the water, since their business model isn't inherently anti-privacy.