APM Configurations preferred for large distributed system to have minimal storage and minimal bandwidth?

I wanted to integrate Elastic APM to some of the microservices in our company.

But I am not quite sure which configuration settings to go for.

Requirements:
• Minimal storage required
• Minimal bandwidth
• Minimal memory usage

I read in Performance Tuning section that setting sampling rate to 20% can help me to improve performance.

And, does the following need to included in every microservices?

transactionSampleRate: 0.2

Is it the solution?
And, I am afraid if any critical errors transactions are missed out in the process or not properly seen in distributed tracing.

Transaction sample rate set 0.2 means only 20% of transaction data will be stored.
I cannot assume error transaction also will be sampled but if your transaction didn't raise error and result was success, they can be missed out.