Should I use WebP or CloudFlare or both (SiteGround hosting)?

I’m new to SiteGround, and have just moved all of my websites to its hosting.

I’ve never used Cloudflare.

I’m going through the SG Optimizer plugin, and I’m confused about WebP optimisation vs. Cloudflare. From searching this forum, it seems to me that the two are incompatible.

So, thinking of speed, which is the best option for a WordPress site hosted by SiteGround?

1. Use Cloudflare (Site Tools > Speed > Caching > Cloudflare)
2. Use SG Optimizer (Media Optimization > Generate WebP Copies of New Images and Bulk Generate WebP Files)
3. Both of the above

Thank you