I'll argue that it should be the entire expressed transcriptome in most cases for reasons laid out in this answer.
Generally, I use all genes that are capable of being compared by your favorite DE toolkit, e.g. all genes with an adjusted p-value in DESeq2 output that weren't removed by independent filtering.
If you adjust your background gene set without good justification, a reviewer will likely ask you to rerun the analysis when it comes to publication. I've requested this when I've peer-reviewed papers.
This is funny, because I'd be requesting it be re-run if it wasn't adjusted.