Best configuration for 45 x 45 area with 16 ft ceiling

Hello,  I’m a bit overwhelmed and not sure where to start with selecting the right components for my space.  The space is 45 ft x 45 ft, ceiling height is 16 ft.  This is a multi-use space, will be used as a garage hangout area, used for entertainment, etc… I will have a large screen TV mounted centered on one of the walls. I am not sure if the best plan would be an Immersive Set with an Arc + Gen 3 sub + 2 Era 300s or possibly setting up a 5 speaker - one at each corner, or some other configuration.  Not sure where to start. Any help would be greatly appreciated.  Thank you!  -Mike