Don't put the money into the stock market -- we've been going on a bull run for 10+ years.
You've got plenty of cash to wait out a next crash.. it's not going to take another 5 years before a next recession hits.
But realistically you'll at some point want to reinvest most of that money into passive, safe(r) investments so that you can book a x% annual return and live off capital gains. (Fun fact; capital gains are taxed lower than income)
Feel free to put some (i.e. $500k to $1m) aside for higher risk investments if you feel like you wouldn't mind the money disappearing or going 50x.
Also: DO NOT JUST GIVE IT TO A BANK -- best way to pay a ton of fees and end up with no (or worse, negative) returns.
Also: (but this is me) I would give back to a cause you care about. Maybe something local where you know the money will have a big impact? Those donations are often also tax deductible (so might as well).