Andrew Welch of the New York based agency nystudio107 wrote a good overview of the options agencies & freelancers have regarding hosting.

Web hosting is something that many agencies and freelancers don’t give a whole lot of thought to. They just use whomever they’ve had a long-standing relationship with, and call it a day. However, choosing the right host—and the right type of host—can be crucial to the success of a project. And the hosting world has changed a whole lot in the past few years, so let’s dive in.

https://nystudio107.com/blog/web-hosting-for-agencies-freelancers

At my company Spatie we're pretty happy with our choice to hosts our client projects on VPSes. We provision them using Laravel Forge and some custom ansible scripts.