We use higher bitrates during recording to lower the noise floor, in turn giving more headroom in the mix. Once you mix down this becomes irrelevant because the difference between silent and full volume at 16bit is enough to cover the full capability in terms of sound pressure levels of the human ear. 1bit = 6dB which means 16bit is 96dB. As we don't start at absolute zero but with a background noise of the room at 30dB using the full dynamic range of 16bit at playback you risk deafening yourself.

In your example if your single tone is out of phase then 1) how do you control this at any bit rate and 2) this is controlled by an acoustically treated room and a skilled engineer during recording. When you listen on headphones you already eliminate this concern on playback and unless you are listening in a professional designed and treated listening studio you will always have some element of phase cancellation. This is the listening character of your room and will occur at any bitrate.

Read this https://www.mojo-audio.com/blog/the-24bit-delusion/