Upsampling can be done but it can't actually "improve" on the original. Once the limitations have been imposed, they can't be removed.
I won't say that nobody can hear the difference between 44.1 and 88.2K ( I've read long debates on this without a consensus) , and for sure 24 bits is better than 16 bits, especially if properly dithered. At my stage in life, I could probably go to 32K and never know the difference. Millions of people who listen to FM broadcast never knew that the vast majority of stations brickwall at 15kHz! (anyone remember 19kHz mplx notch filters on cassette decks?)
As they say, once it's gone, you can't get it back.
The main reason I record 88/24 is that the latency is lower, and my system can easily handle it. As for wasting storage space, my pitiful output is nothing compared to the gazillion worthless TikTok videos and pointless memes posted daily. Talk about a waste of time and energy! It's become the days of bread and circuses to keep the masses entertained!