Reasons to convert JPEG to HEIC?

I have thousands of jpeg photos ranging from a few days to many years old. My Fujifilm X-T30 camera and older digital cameras all produce raw and jpeg formats only, so the number of jpeg files I have is always increasing. My iphone by default creates HEIC photos, so that I have many of those as well.

I was told HEIC photos have slightly better quality and use less storage space.

Is it worth while to convert all my jpeg files to HEIC? I have an app (Graphic Converter) that will do this in bulk, but I only want to bother with it if there is a valid reason.