I would read the Ammo Oracle stuff that is linked to on AR15.com and some of the other similar articles and figure out what your needs are. Handloaded velocity might be a bit slower but you can get an idea of how different bullets and weights work.
Depending on your rifle twist - Mk262 ammo is loaded with 77 grain BTHP match or "OTM" bullets and military spec ops really finds it effective, even at longer range with the M4. Both the Sierra and Nosler bullets have been used and Nosler might have had a minor edge in terminal ballistics, despite Sierra winning the contract.
If your rifle likes or needs lighter bullets (1-9" twist), Then use 68-69 grain BTHP match or "OTM" bullets from Nosler, Hornady, or Sierra. Performance is a reasonably close second to the above load.
All of the above loads are more suited to general "outdoor" defense scenarios, with the best long range performance in the caliber. Katrina type events would be a good example.
Of course TAP-type bullets would include the Hornady V-Max bullets or their virtual clone as to construction - the Nosler Ballistic Tips. This type is popular for situations where over-penetration is a concern. The downside is that the wound cavity is large, but penetration can be relatively shallow. Obvious the TAP round works and is used by LE but does have this specialization factor.
Barrier penetration would call for something like the Barnes TSX - which would work in a manner more akin to the 68-77 grain Match bullets, but is also a bit specialized.
And yes, obviously M855 62-gr, and M193 55-gr FMJs have done in a whole lot of people over the last 4+ decades, but have different characteristics.
I have shot a lot of varmints with .223 55-gr SP and Ballistic Tips, and would not want to get hit by any of them. You could put your fist in some of the wound cavities on larger vermin, so it is not like the wrong bullet will just bounce off or something.