Whatever electronic conspicuity system is chosen for light aircraft, it needs to be compatible/inter-operable with general aviation at large, and even commercial aviation, and needs to fullfil the U-Space conspicuity mandate.
In my view it should not rely on the public cellular network, should not rely on proprietary technology, and the transmitter should not be portable or rely on an internal antennae that may be masked.
UAT seems like the obvious choice, especially now that we have established that TACAN is no longer used by the US military. UAT/TIS-B should also make it possible to re-broadcast FLARM targets as well as secondary radar targets (non-ADS-B), and can bring FIS into the cockpit. This really sounds like a win-win situation.