CDs operate with a sampling Frequency of 44.1 Khz, for various reasons including low cost bulk manufacturing of the playback electronics, and enabling a CD to hold upto 78 Minutes (longest western Classical piece) of music.
When upsampled, 44.1 KHz yields Sampling rates of multiples of 44.1 KHz ie 88.2 KHz & 176.4 KHz
Early Digital studio equipment used modified Video equipment to record digital audio. Most video equipment operated at Sampling Rate of 48 KHz. (Yup, Different from the CD Standard !)
When upsampled, 48 KHz yields Sampling rates of multiples of 48 KHz ie 96 KHz & 192 KHz.
A Lot of High Resolution (Hi Res) Studio recordings ( at 24 Bit resolution, rather than the CD's 16 bit resolution) are now available to consumers to download at 24/96 & 24/176
Hence 2 separate standards have emerged and continue to this day.
There will only be a Theoretical difference (not perceivable) between 16/44.1 & 16/48, however there is a distinct difference between 16/44 (CD Standard) and 24/96 (Hi Res) music.