I’m using a 4K 28” (I didn’t think there were any 4K 27” given the geometry), and it’s ok but I would really prefer a 5K 27”, those are just more clear although not incredibly so. But they are so expensive to get outside of an iMac. I recently bought my wife a 24” 4K, which has a similar density to the 27” 5K, and her screen looks much better than my 28” 4K.
I have followed this approach as well. I use a larger display from further away. I did get a deeper desk to enable this in my current setup. Previously, I mounted my monitor on the wall and moved the desk out ~10" (~25cm).
Either way gives me a greater range of suitable monitors, and they are all cheaper than going for unicorn displays.
I'm on a 4K 27" monitor. That's a PPI of 163. I don't feel it's dismal, and I sit relatively close to my monitor.