

You will probably want to enable the non-free rpmfusion repository. I can’t remember if that is an option during install, but if not here’s how to do it with the console:
https://docs.fedoraproject.org/en-US/quick-docs/rpmfusion-setup/#_enabling_the_rpm_fusion_repositories_using_command_line_utilities
If you scroll down to Media Codecs and HW Acceleration you’ll have a guide on how to get proper ffmpeg and h264 and h265 driver support:
https://github.com/devangshekhawat/Fedora-42-Post-Install-Guide
Options if it’s to protect against local disasters such as fire:
Personally I would probably go for option two and bring the usb drive with me for a weekly coffee with my parents, they’d enjoy the visit and I enjoy knowing that my backup isn’t in the hands of Amazon. I’d go for option 1 if my internet was better.