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I assume you are going to have 1 or more resistors + series FET in parallel and switch in different equivalent resistor values for ISET1. If so, then any low cost NFET should work, as long as it Vth is below your MCU GPIO drive voltage. Regarding frequency, the current regulation loop has a finite response time in the 1ms range. I suggest not switching faster than that in order to give the current loop time to settle.
