Red series is Z-Wave. Blue series is Zigbee (not upgradeable to Thread/Matter). Both of these have basically identical functionality and performance besides their radio (900mhz vs 2.4ghz).
The white series is thread / matter but has reduced functionality (due to limitations of the matter protocol currently) and is not yet available.
Personally, I recommend a mix of Z-Wave (anywhere there’s only a single switch and no smart bulbs), and Zigbee (multi switch binding or binding to smart bulbs) since Zigbee is more interference prone due to frequency.
I would recommend against making your own hub, especially with Inovelli products. Their switches have a very large amount of functionality and params and building that into a hub is not easy. If you want something that supports a lot of DIY functionality, Home Assistant with Z-Wave JS UI / Zigbee2mqtt will likely be a good path forward.