[Feature]: Better support exception handling

[makubacki]

What does the feature solve?

The ability for library consumers to consistently handle exceptional circumstances in the library. Better error documentation and better encoding of error cases in code.

Describe the solution

As a general-purpose library, this library should better define consistent exceptions that users can rely upon for handling exceptional circumstances.

The exceptions should be documented such that each exception has a well-known purpose that library implementors and consumers can depend upon.

Have you considered any alternatives?

No response

Additional context

No response