For formal wear, a solid-colored, long-sleeved dress shirt made of a high-quality cotton or cotton blend is generally considered the best option. A white or light blue shirt is the most traditional and versatile choice for formal occasions, but other conservative colors such as light gray or soft pink can also work well.
It's important to choose a shirt with a classic fit that complements your body type and is comfortable to wear. A well-fitting shirt should have enough room in the shoulders, chest, and waist to allow for ease of movement, but not so much that it looks baggy or untidy.
Additionally, a dress shirt for formal wear should have a pointed collar that can accommodate a tie and be buttoned up to the top button. The cuffs should be able to accommodate cufflinks, which are a popular accessory for formal occasions.