Magura is mineral oil based as well. I've seen some discussion that there isn't perfect compatibility between Shimano and Magura fluids/seals, but there are a ton of people seemingly riding the "Shigura" setup with no issues.
I have MT5s on both of my bikes and I'm really happy with them. Only real downside that I've seen is that the pads and general service parts are a bit harder to come by and can be really expensive. I'd consider Shigura if I didn't like the Magura levers, but they seem to work well for my hands.
Also liked the Shimano brakes that I've had in the past, but I definitely had reliability issues similar to what others have described. Namely, wandering bite point and lever just straight up going to the bar without warning a few times. These issues may be overblown but it wasn't something that wanted to risk.