Opus files do not open in many music apps, editors or hardware players. Ogg is open and royalty-free, which game engines and open-source tools favour. OPUS is at home in voice and music at low bitrates; OGG is the usual choice for royalty-free audio in games and on the web. Both formats are lossy, so the content is compressed a second time; start from the best copy you have.
The defaults suit most files. Under Options you can choose the bitrate and trim the start and end.
The conversion uses your browser's own video and audio codecs (WebCodecs), with hardware acceleration where the device has it; the file is read from disk as it goes and can be up to 2 GB. Where the browser lacks a codec, the page falls back to the compatibility engine. OGG is written at 160 kbps unless you choose another bitrate.