Yes there are DisplayPort standards that can reach that, but in practice all the top end GPUs have only the old DisplayPort 1.4 version. That means the only choices are to use HDMI 2.1 or to use video compression over DisplayPort 1.4.
I will say that VESA has been very successful with their Display Stream Compression (DSC). Not that the algorithm is something special, but in terms of marketing. You never see monitor reviewers talk about the fact that using DSC will give you artifacts. VESA markets this compression as visually lossless, which every non-expert explains as actually lossless. In reality the losslessness is defined in the standard as when all the observers fail to correctly identify the reference image more than 75% of the trials. Beyond that, like with any compression, it will fail at high entropy images. Take for example this 2017 study titled Large Scale Subjective Evaluation of Display Stream Compression [1] which found that performance on some images was not visually lossless, however, those images were challenging images with high entropy.
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[1] https://www.researchgate.net/publication/317425815_Large_Sca...