Okay, I can’t find it... The signal selection algorithm... So...
Option-Click on the Wi-Fi logo in the menu bar.
Buried in the middle of that display are the current RSSI, noise, channel, mode, transmit rate, security, and related details.

Numbers here are negative, so the larger / higher / bigger values are, well, the less-negative values.
You’re here looking for how far the signal is above the noise floor, and less about the absolute values.
RSSI: -30 to -40: excellent, lots of power; -40 to -50: very good; -50 to -60; good.
Noise values: -90 and lower: no noise; -80 to -90, slight noise; -70 to -80, some noise, -60 to -70, noise problems; above -60, probably too noisy.
In the above, that Wi-Fi network signal is 34 dBm above the noise (-58 - -92 = 34), which is very little interference; ~25 dBM and higher is good, while below ~25 dBm becomes poor. This low noise floor (-92) means not much power is needed. This is the signal-to-noise.
dBm is not a linear measure. Each increase of 3 dBm is double, while each decrease of 3 dBm is half.
You’re also here looking for the mode, which determines how fast a Wi-Fi client can operate on a specific channel. 802.11ac shown above, and shown using 5 GHz channel 36 at 80 MHz width. This network is using channels 32 to 40 inclusive as one very wide channel, which is ~optimal for performance with 802.11ac 5 GHz. This in conjunction with the MCS setting.
And the transmit rate shows ~527 Mbps.
A Wi-Fi network will try increasing the output power to get better signal strength (“above the noise”), but then other competing, non-coordinated Wi-Fi networks can then increase transmit power and/or switch channels, and, well, coverage then gets spotty. Cascading failures are not unusual in crowded areas; where Wi-Fi networks set for auto-switching channels to avoid interference commence a rolling failure.
Coordinating channel usage among local networks is always preferable to uncoordinated, and you’ll want to avoid overlapping channel assignments in 2.4 GHz.
And again, I’ll recommend Wi-Fi Explorer or similar display app, as that makes what is going in much more clear.
Want to discuss this further here for your network, post the above block of info. And get Wi-Fi Explorer or ilk, as display tables of numbers and with no plot over time are just much harder to visualize. Drop-outs harder to spot, etc.
I’ll keep looking for the 5 GHz versus 2.4 GHz selection logic, but...