I prefer third person limited in past tense. It's the most natural and intuitive perspective, in my opinion.
First person sounds like the character is telling you the story, and second person can create a lot of cognitive dissonance, and I feel like it fails its intended purpose to put the reader in the story. Third person feels more, matter of fact, everything is as it happens. And limited to just the thoughts of the pov character, because people can hear their own thoughts, but usually not others. And even when someone can hear another's thoughts, it's still colored and processed through their perspective. It's very effective, because it allows for a enough separation between the reader and the pov character that you avoid the dissonance 2nd person imparts, while still putting you in their shoes. You become the character and the character is in the story, rather than you being in it directly as yourself, chained to the plot. Ultimately I find third person limited the most immersive.
As for tense? I don't usually notice it while reading tbh, but I've tried writing in present tense and it feels strange and unintuitive, so while theoretically it sounds like it would be more immersive as it describes things as they happen, functionally it doesn't read too different from past tense, and past tense is easier and, I feel, more flexible, which allows for more variance in sentence structure, and thus potentially better prose.
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