My wife and I use to offer a service to our customers for making copy prints & negatives and also complete restorations. This was before computers as we know them.
Depending on quantity and quality needed, I would use 120 roll film, usually 6x9. For higher quality or as part of the restoration, would use 4x5. I always use my Graflex View II camera with studio strobes, never hot light. Print mounted on a magnetic board on the wall, camera on tripod.
The restoration process was make a 4x5 negative, blow up to 16x20, and my artist wife would take over. She would paint what was missing, for example, if the print was torn.
After she was done I would make another 4x5 negative from the 16x20 and the make the final print, usually 8x10, which looked perfect.
That said, in the area we were in, extensive restorations was pretty expensive for most people. Copy photos with or without negatives were affordable.