This is an incredibly difficult topic to discuss, in my opinion the answer is and always will be: Whatever you think is best.
You can have many choices that affect very few things, very few choices that affect quite a lot of things or any combination of the two.
Personally, I’d rather see a really good story with a handful of choices that really make me stop and think.
Choices like “Do I go left or right” - even if each leads to a very different scene, I won’t feel the impact of the choice.
However something like, choose who to save:
“The Queen (you love) or a small innocent child”
I’d actually have to stop and think for a moment, that’s a hard choice. What do I think the consequences of that will be? Will the empire crumble without the queen’s guidance? Will my (character’s) heart turn inside out without her? Would she forgive me if I saved her over the kid? Does the kid deserve this? Why is he/she here? Can I sacrifice them for the good of the kingdom?
That - to me - is what makes a good choice.
I could care less if my character is wearing blue or black, or if they’re family name is burt or bort. Those are all nice touches, but to truly feel like a part of the story/game and world, I want to feel like my choices have weight, and when they have weight, they make me stop and think very carefully about what choice I’m going to make…
But that’s just me.