Images in SVG > image in terms of SEO?

Question

Search Engine Optimization

Ran into a situation where visual effects work better in imageSVG tag than in img. And now I'm wondering how this will affect SEO?
How to optimize image? Is there alt, title, like this tag with accessibility, how to make them responsive (i.e. like srcset) and so on? Is there a chance this image will be featured on Google Images?
ADF: if someone does not understand, then we are NOT talking about a picture of the SVG format, but about a regular bitmap picture INSIDE the SVG.
APD2: it looks like I've come across another SVG edge case))) I've already lost track of the number for the last 24 hours!