according to Wikipedia
https://en.wikipedia.org/wiki/LDAC_(codec)
"When the codec is set to 16 bits/44.1kHz at 909 kbps (or 16 bits/48kHz at 990 kbps) LDAC can stream lossless audio that is identical in quality to (or slightly higher than) Audio CD."
so if I go into Developer Options and force it to 990/909kbps and 44.1khz 16 bit, does that mean I get lossless bit perfect audio, at least for CD quality ?
I'm not an expert at the field but I can speak from what little experience I have with LDAC.
So, assuming you want to use an Android phone as the source and that you have some flacs locally, instead of using a streaming service, the short answer is - yes, kind of.
The more nuanced answer is that it highly depends on your connection quality and phone.
The unfortunate thing is that you can't really force LDAC to use only one specific bitrate easily. If you toggle it in the dev options, it'll revert to whatever it wants when you connect your headphones. The way I found to do it is to have the Sony music center companion app and there is a settingfor high quality on the codec in there that sticks, but you have to have two apps, it's a hassle.
LDAC, especially at 900kbps, is a bit flakey, meaning that sometimes even something like putting my phone in my pocket can drop the connection, and if you're in a noisy environment (lots of 2.4Ghz signals around) you won't be able to stream anything, let alone CD quality.
All that being said, back to your question. If the stars align, you can stream lossless CD quality, probably not bit perfect but it can do it.
For more reading on the topic, I suggest
this article