Just like we mentioned in commit 001eee3d6, according to the Rails
configuration guide [1], with this format, Rails serializes cache
entries more efficiently. Most importantly:
> All formats are backward and forward compatible, meaning cache entries
> written in one format can be read when using another format. This
> behavior makes it easy to migrate between formats without invalidating
> the entire cache.
[1] https://guides.rubyonrails.org/v7.1/configuring.html#config-active-support-cache-format-version