I started as a sole proprietor. But that was when I was running out of the home office and all equipment was mine.
I did switch to LLC when I started renting an office and signed a lease. As you stated, an LLC protects you from financial risk. I can’t imagine a case where if things got so bad with a client they would sue me for money they already gave me. If they don’t like the work, they withhold payment, I do the suing.
The risk comes when you owe someone else. A loan for equipment. 36 months of rent payments.