Purchasing a high Domain Rating domain for a 301 redirect

I’m considering purchasing a domain that has a high Domain Rating (78) by ahrefs (https://ahrefs.com/website-authority-checker)

The domain is a good domain in terms of not just its domain rating but also its name. It’s short, and has good keywords in it.

The domain was owned by a company which does essentially what my company does. The competitor’s company went out of business a few months ago.They were a much larger and much more successful company than mine at this point. I’m just starting out with sales.

I am considering purchasing the domain but it is quite expensive. If I were to purchase the domain, I would want to make sure I could turn the positive aspects of this domain into something positive for my business.

My intention was to do a 301 redirect, but I’m not sure how that will help me. I don’t want to assume the other company’s name, I just want to point potential visitors to MY company’s domain and also am hoping to catch a bump in authority or rating myself. That said, I’m not sure that is how that works.

Is it possible to do what I mentioned above and have it be of significant value to my company?

Do you have any other suggestions or alternative angles to best benefit from the purchase of a domain like I’ve described above.