Wired networking has less latency than wireless.

Sounds card and drivers add to the latency mix. Which is why Jamulus requires ASIO drivers (on windows at least) - the inbuilt mic on your laptop does a heap of processing to clean up etc, but adds to latency; unfortunately, if you remove this processing there's a lot of noise. A decent external sound card is pretty much required.

If you can isolate the sound of your instrument so you only hear it via the network (i.e. you're wearing isolating headphones), you can get away with more latency as your brain will compensate. That way, everyone will listening through the network, so everyone should be in sync (assuming the software compensates for different latencies). But this makes things really hard for vocalists or drummers, where isolation is really hard or impossible.

The upshot is that this is really hard for amateurs - I was trying to get something going with my community orchestra but gave up as half of them were on ipads or didn't know what an ethernet cable was, let alone an external sound card. Was tempted to look into building a raspberry-pi based standalone 'jamming' applicance, but then the lockdown ended and I lost interest. Still, exploring public Jamulus servers felt a bit like the early days of the Internet :)