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Are there any limitations in Lossless vs regular RAW? If they really are identical, why use one over the other?

Hi people.
Mighty impressed by your work.

I use my 100D mainly under water, and have a few questions...

What is the most stable version for 24fps and at which resolution? I hate it when the camera freeze and needs a battery pull. Especially when I'm 30m under water... I have a 256GB SanDisk Extreme card.

Is lossless raw format equal to regular raw format, when it comes to editing in Camera RAW? Since the light conditions under water is galaxies away from over water, I need to have the best possible raw material. Is it better to film with 12bit regular vs 14bit lossless?

Will I get automatic exposure to work while filming, or should I just make smaller clips with the right exposure for each?

Than you all for your efforts!