You should really tell us what you plan on using it for and on what and what OS, but in almost all cases, you would most likely want to go with a SSD.
HDD:
Pros - Cheap, there is usually warnings/symptoms when they starting to fail
Cons - Slow, hot, APFS is not optimized for HDDs, and there is a significant performance loss with Catalina (not sure about Big Sur)
SSD:
Pros - Fast, really fast, Runs great on modern MacOS, instant response, cool running, pretty much a must on Catalina
Cons - Expensive, usually no warning for failures,
Fusion Drives:
Pros - Can be fast, especially for short writes, and fast on data that is accessed often, cheaper than SSD, depending on how it is used and Fusion Drive size (or year) the Fusion Drive could be a decent choice for older OS versions.
Cons - Can be slow, especially for long writes and slow on data that is not accessed often, hot from the HDD portion, no failure warning from the SSD portion, sucks on Catalina,
Another thing about Fusion Drives is that they are not all created equal...
When they first launched with the Late 2012 iMacs, all of the Fusion Drives had a 128GB SSD portion. In 2015, Apple reduced the 1TB Fusion Drive's SSD to only 24GB, making it crappy. In 2017, Apple increased the 1TB Fusion Drive's SSD to 32GB, but still really tiny.
All of the 2TB and 3TB Fusion Drives have 128GB SSD portions, making them much more desirable than the newer 1TB Fusion Drive.
Bottom line, go with a SSD unless you really can't afford it. If what Apple charges for SSD is a problem, it might be worth it to just get the cheapest option and use a third party external SSD as your boot drive.