I'm looking to put up a ceiling 12' high in my 20'x30' shop. I did my walls with 1/4" white melamine coated MDF. Nice stuff. I got factory seconds for 7$ a sheet,but only top grade is available now @ $18.
If it was me I'd try 3/8" drywall if you want to save the $. It comes fairly white so you'd save painting time and cost. If it sag's more than you want in a shop,put up 1x2 strips. If it's so flimsy it cracks under it's own weight, cut it in half, and add more 1x2. The cost of this system may be close to OSB and paint if your labor is not a consideration.
Would 7/16" OSB sag on a ceiling with 24" OC spacing? No, I have 7/16" OSB for my roof deck with 24" OC and it holds up 4' of snow.