Do you work with a large team? There is no correct answer for formatting for a team, there is only correct answer for individual person. The line limit 80/120/160 will work for certain people with their setup, but not others. Stuff like using a ultrawide screen with two columns, or code on laptop screen with single column, or code with half screen code editor and half screen browser, etc, there are endless mutation, all of them can benefit from different settings. It is essentially not possible to find the best option for everyone on the team. You may think 120 is the best, but there is no way to prove it. It just worked for you because of your coding setup and preference.
I don't care what the limit is unless it's consistently applied.
My least favorite though no limit + soft wrapping, the philosophy being the code adapts to the user, but in actuality means the file looks completely different based on your monitor and setup removing visual aid to code navigation and familiarity.
I work on a ruby/ts/js codebase and seem to recall different file extensions having different line lengths. Something like that is annoying but at least it's more consistent within the file extension