I own the Olympus 45mm f1.8 which I loved for portraits. Like you, most of my pictures are for family portraits and vacation. I also take some event photography, mostly corporate with stage entertainment.
For the Olympus 45mm f1.8, I find that the lens to be a bit too close for a tight head and shoulder shot, and the bokeh to be somewhat insufficient half of the time. This is especially true whenever I want to take tight portraits. I also noticed some perspective distortion when I go in to fill the frame with only head and shoulders for my portraits. I also wanted more 'bokeh' to go along with it.
So I had a choice of the Sigma 56mm or the Olympus 75mm. Due to focal length and perspective distortion, along with size, weight and cost, I did not consider the Oly 45mm f1.2 or the Panny 42.5 f1.2), and opted for the Sigma 56mm after much research.
Beyond 55-60mm (110 to 120mm equiv), I find that expanding the focal length grants very minimal perspective correction (reduce distortion) to the image.
I suppose for your case, the main considerations whether you need a new lens or between the 3 lenses you mentioned would be:
1. Do you need to take tighter portraits, or notice perspective distortions with the 45mm? At 45mm, it is more versatile as it is wider. The most common portrait FL has always been 85-135mm FF equivalent. The 56mm is right smack in the middle.
2. Do you need more bokeh? Look at this link, it can give you some idea of the amount of background blur achievable by the 45mm f1.8 vs 45mm f1.2 vs 56mm f1.4.
https://www.howmuchblur.com/#lens-2x-45mm-f...on-0.9m-subjectTo put things into perspective, if in an indoor shoot the 56mm f1.4 with 2m of subject-background distance would give you the same of background blur as with 45mm f1.8 with 5m subject-background distance. With 4m of subject-background distance for the 56mm f1.4, you would need 50m for the 45mm f1.8!
45mm f1.2 would give similar results with the 56mm f1.4.
3. Size and weight. The 56mm is the lightest among all of them.
4. Price. Again, the 56mm is the cheapest.
For me, I wanted more bokeh and notice some distortions, which made me to get an additional Sigma 56mm.
I have tested the 45 mm f1.2 pro and it’s really sharp even wide open. Thought of replacing my 45 with the pro version. But what sifu incubus said is true, might as well save the 4k for a wide angle to expand my reach. I’m not bother about bokeh because i came from nikon. Thanks for the feedback anyway.