Times New Roman was designed for the print era, and Calibri for onscreen viewing. Onscreen viewing is a lot more common today. Based on that technical characteristic, I'd be kind of inclined to favor Calibri or at least some screen-oriented font.

That being said, screens are also higher-resolution than they were in the past, so the rationale might be less-significant than it once was.

https://en.wikipedia.org/wiki/Calibri

Calibri (/kəˈliːbri/) is a digital sans-serif typeface family in the humanist or modern style. It was designed by Lucas de Groot in 2002–2004 and released to the general public in 2006, with Windows Vista.[3] In Microsoft Office 2007, it replaced Times New Roman as the default font in Word and replaced Arial as the default font in PowerPoint, Excel, and Outlook. In Windows 7, it replaced Arial as the default font in WordPad. De Groot described its subtly rounded design as having "a warm and soft character".[3] In January 2024, the font was replaced by Microsoft's new bespoke font, Aptos, as the new default Microsoft Office font, after 17 years.[4][5]

I suspect that the Office shift is probably a large factor in moving to Calibri.

That being said, there are many Times New Roman implementations, but it sounds like Calibri is owned by Microsoft, so I'd be kind of inclined to favor something open.