there's no recomended JVM version for Kotlin, so I use the latest LTS.
New JVM version come with new functionality (e.g. the Vector API or the new/safer Foreign Memory Management, a better Garbage Collector for your usecase) and often more speed but sometimes a takes a while for all the libs your app uses to catch on (more specifically e.g. Spring uses bytecode instrumentation, so in the past it often took 2-3 months for Spring to support a new JVM versions). Also newer JVM versions sometimes remove support for some older cryptographic libraries. That can be a hassle if your app still depends on them.
I tend to update to newer JVM as soon as possible, if there's no immidiate problem showing up, everying tends to work just fine.