I’ve had really good results spraying lacquer with walnut.
But it really depends on the sheen and depth of finish appearance you are going for.
Lacquer is a type of finish that will melt successive coats together , whereas polyurethane is a building finish that each coat lays on top of the preceding coat.
If i am going for a satin finish in lacquer I like to do the first several coats in a gloss finish and the last coat (or 2) with the satin. This prevents the flattening agent from “Muddying up” the grain.
This method applies with poly as well.