I've been using Java and the JVM since about 1995 when Sun released the early betas (pre 1.0). It's more or less a convenience marriage. Right place and right time I guess. I happened to specialize in it for a while. A long story short: I pivoted to Kotlin a while ago and stopped caring about what Oracle is doing to keep up. Too little, too late; and it seems to perpetually not matter at all unless you are still doing Java, which I'm not.
Kotlin works great on the JVM and about the same across Jdk 8-16 (probably from v6 even). A lot of stuff happened in between but the Kotlin compiler and library ecosystem seems to cover up and smooth out the differences. Most of the Java compiler or standard library changes stopped mattering to me. There's not a single thing from v15 to v16 that I can name that matters to me, at all. All my code works fine with v11 (the first and only post v8 LTS release) and the delta with getting it to work with v8 is trivial. There's just nothing since about 2014 that actually matters to me. Not even a little bit. All of my Kotlin code bases trivially work with any release since then.
I use Spring and Spring Boot in their latest versions and there's no question about Kotlin being the preferred language for that at this point. You get basically everything they did to make it work with Java 8 plus everything that Kotlin adds on top, which is a lot. Some of that even works with recent Java versions.
At this point that includes stuff like co-routines and Flows that makes the whole abomination that is Spring Flux usable (as opposed to a minefield of complexity you have to deal with via 2014 era Java), data classes instead of last century style Java Beans (just, no!), etc. Java 9 and on-wards is kind of half getting there with things like Loom and records landing only very recently and not havig had any impace yet whatsoever. You want something modern, fresh, and nice with Spring that is not experimental and well supported: Kotlin is it. Everything else is stuck at being experimental until way after Oracle labels latest & greatest Java version as LTS, which might happen in the next two years or so. Java 11 technically happened but never really registered in the same way that Java 8 did. For a lot of conservative places, 8 was the last stable release. That was in 2014! Everything after that is optional, nice to have, and yet to impact major frameworks. Except of course if you use Kotlin, which fast forwards you about seven years plus whatever Java has left to catch up.
There really is no functional difference between JDKs other than slight changes in Java APIs you probably should not be using with Kotlin anyway. All the important stuff is tested with and works fine with v8. I'm talking libraries, tools, and frameworks. Most of my code works exactly the same with Java 8 as it does with Java 16. I get very little value out of using something more recent than jdk 8. But I still upgrade. Kotlin uses some of that transparently but mostly it does not matter, at all.
We are basically talking purely non functional things that are mostly about things like performance being slightly better, new garbage collectors, or the whole modules thing that is largely irrelevant to any kind of server side usage having happened or not. I've never been on project where that actually mattered even the slightest. Complete waste of time that pre-dates the acquisition by Oracle even. But nice that they cleared some technical debt there and got rid of some circular dependencies in a standard library that I largely don't depend on with Kotlin.
Which is a different way of saying that I get very little out of Java updates in the last seven years. My mode is mostly that, well if you are going to pick a JVM, you might as well pick a recent one because it probably has a few fixes that may or may not matter to you. But it's going to work fine either way.
The next big thing with Kotlin is multi-platform and cutting loose from Oracle. I'm already utilizing kotlin-js for some front end stuff and am keeping an eye on their WASM efforts and native stuff as well. A lot of what I care about already works fine across all of those.