Those are JPG settings. The camera applies certain settings to the captured image. Sometimes it boosts saturation or contrast, or it can control (to some degree) the sharpness.
THEN IT COMPRESSES THE FILE, AND DISCARDS ALL OTHER DATA!
If you're shooting RAW, you can make all these adjustments to your image later on the computer, and still un-do them years later if you decide you no longer like the image.
If you enjoy the convenience of JPGs, consider shooting RAW + JPG, so that you have both.
Softness is good when shooting portraits. Most people prefer not to have their wrinkles starkly visible. Sharpness OTOH is good for landscapes and architecture.
Same with vividness - many consumers like bright colors. But you can also lower the saturation and get very interesting images.
... but do it during post-processing. These kinds of settings shouldn't be applied in the camera, at least not at the cost of flexibility later. Shoot both, try and get the image you like in a JPG, but keep the RAW file for posterity.