What the conversion actually does
An .m4a file is an MPEG-4 container with a compressed audio stream inside it, almost always AAC and occasionally Apple Lossless. A WAV file is the opposite idea: a short header followed by the raw samples, written out one after another with no compression at all. Converting M4A to WAV therefore means decoding the compressed stream back into samples and writing those samples down literally.
That is worth being precise about, because it sets expectations correctly in both directions. Nothing is lost in this step, since the decode is exact. Nothing is regained either, because the detail AAC discarded when the recording was encoded is not recorded anywhere. What you end up with is an honest, uncompressed copy of what the M4A holds.
When you want this, and when you do not
Convert when the file is heading into software rather than into your ears. Audio editors, digital audio workstations, game engines, speech to text tools and hardware samplers all handle plain PCM without complaint, while support for M4A ranges from partial to absent. Voice memos recorded on an iPhone are the most common case: they arrive as M4A, and the tool that is meant to transcribe or edit them wants a WAV.
Do not convert m4a to wav when you simply want to play or share the audio. The M4A is already smaller, plays everywhere a WAV does, and sounds identical. Turning a 4 MB file into a 40 MB one for no reason is the mistake this page exists to help you avoid.
Size, speed and the ceiling
Files up to 500 MB are accepted, which is the point at which a browser tab genuinely cannot hold the container in memory. Conversion runs far faster than real time on a laptop, because no picture is involved and no filtering is applied, so the length of the recording is what costs you.
Everything runs locally. The engine is ffmpeg compiled to WebAssembly, fetched once on your first file and cached by your browser afterwards, so the second conversion starts immediately.