For lob pass I look for a receiver who beat/will beat his man on the run, or someone that in a 50/50 jump ball will get the grab. As a result I’m almost only ever throwing a lob to a miss match man coverage. If I’m running a verts route I’m probably bullet passing between zones to get the ball there while they “switch”
I guess my answer is, i don’t use it unless I really need a big play. I’d rather use other passes, but if my receiver blows pst someone and they are still following it means they are in man but they won, so lob it before they hit the safety zone if there is one, and they will likely get to the end zone if they can juke or out burst one man (safety).
If you have a tall “physical” WR, you can trust him to pull down lobs in single coverage, and sometimes they get quite a break. Understand any lobbed ball is leaving time for help to come