There is a package, https://github.com/carltongibson/django-template-partials, that is basically like server-side hx-select, when there is some performance concern. Overall, I agree with you though, hx-select is going to be fine most the time.
Thanks for sharing that! I also just finished watching Carlton’s talk from DjangoCon EU (linked in the repo) and it is gold: https://youtu.be/_3oGI4RC52s