South should probably bid 1♥ with the plan to rebid NTs at lowest level to show a balanced 15-6/17 HCPs.

The shape is not good 4333 and only 3/4 tricks some may wish to downgrade hand to a 1NT 12-14. Aces are under valued and whilst upgrading hands is more common and downgrading a hand can be risky for missing games / slams.Even though 4333 Kaplan and Rubens Hand evaluator show this hand as 15.4HCPs

A good youtube channel to follow is Bridge Lessons https://www.youtube.com/@bridgelesson with Rob Barrington. A regular broadcast in the Wednesday morning show (with Gavin Wolpert) and the day after on board 4 he had a similar 4333 hand that some would downgrade to a 1NT (though strong) and he advocated not to. https://www.youtube.com/watch?v=o-WX-V0ygBE

So if South opens 1♥ West may make life difficult with a weak 2♠ (but being vulnerable many won't risk it with only 4HCPs). Over the 2♠ North with 17HCPs will be looking for a slam. Bidding 3♦ a new suit at the 3 leval is forcing. South will bid 3NT. North will then try a quantitative 4NT which South with 15 HCPs will raise to 6NT.

If West passes over 1♥ North will bid 2♦ .

South will bid 2NT showing 15-16/17 that North will raise to 6NT

If South only opens 1NT North cannot see 32HCPs (17 + max 14HCPs) for a slam so will bid 3NT.