This is a fantastic post, I just bought a 28", 158 dpi monitor recently and spent quite a bit of time figuring out how to maximize the font quality.
Since there weren't any suggestions for linux, this is what I did for Ubuntu 20:
* 2x scaling
* Downloaded libfreetype, enabled subpixel rendering option, replaced existing libfreetype.so
(I think Ubuntu 20 might already have this enabled, but just to be safe I did it manually)
* Turned off all hinting options in font configuration
* Turn on lcddefault filtering
(necessary if you have subpixel rendering enabled)
* Specifically set 158 dpi in Alacritty terminal config
(Not entirely sure that's necessary?)
You're welcome, I hope it helps! To preface this, I think Ubuntu 20 comes with good font rendering options by default, so my suggestions are mostly unnecessary. I just wanted to experiment to see if I was missing anything. All the options I'm referencing are explained in detail in this blog post (e.g., subpixel rendering and lcd filtering), they're all just configuration options in the freetype2 font renderer.
Since there weren't any suggestions for linux, this is what I did for Ubuntu 20: