WMA is Windows' old house band: big in the early 2000s, mostly retired now. It was born in 1999, Microsoft, and its real weak spot is the modern world: Apple devices, browsers and most apps have moved on.
WAV is audio with nothing taken away: every sample intact, every megabyte accounted for. Raw PCM samples in a RIFF wrapper. No compression of any kind. That makes it the right destination when what you need is recording, editing and mastering, where every last bit matters.