LTS, Current and EOL , what to choose and why?

Question

In November 2021 .Net 6 will be released, the first LTS (3 years support) for .Net 5 (naming), and then every year in November the new .net versions like 7, 8 will be released.

 For .Net Core (3.0) the support (LTS) will end in November 2022.

Which version is wise to choose for production purposes. 

 And like we have .net framework 4.8 as the last version, is there any end of.net 5 like .Net 10 will be the last?