What exactly is "Hi-Res" audio?

[BlazingAbyss]

Recently I've been browsing music on ototoy.jp and noticed that some albums are listed as "Hi-Res," Hi-Res albums are 24bit/48kHz-96kHz while Lossless albums are only 16bit/44.1kHz.

Seeing as both are in lossless formats (FLAC/ALAC/WAV) does that mean that "Hi-Res" is actually all around better than Lossless?

Furthermore, assuming that Hi-Res is superior than Lossless, is Hi-Res the same or better quality to that of an actual CD? For example, would this ototoy listing for Bloodborne: The Old Hunters soundtrack be better or exactly the same as the initial promo CD packaged with the Japanese Limited Edition version of the game?

Edit: The Hi-Res audio on ototoy seems to mainly range from 48kHz to 96kHz depending on the album (though I did come across a few 192khz albulms,) so they're not all 96kHz like my original wording implied.