Unfortunately, locally stored music is a dead media.
TBF, Epic hasn't really done anything to antagonize the DRM-free movement (and open-sourcing UE4 was a huge PR win for them), but neither have I seen them really go out of their way to support it the way, say, CD Projekt did with GOG, a store that at least at one time (and maybe still) exclusively sold DRM-free games.
I'm more inclined to read the Bandcamp acquisition as Epic's hipper eventual answer to iTunes, given their spat with Apple doesn't seem fully over. But I guess we'll see. I will admit I'm taking the news of the acquisition with more cynicism than is strictly warranted based on the observable facts.
There are very active communities of people who collect and distribute media.
check out https://www.reddit.com/r/DataHoarder/
i use syncthing to sync my library between all my devices. resilio sync with its "selective sync" feature is another option if you have a huge library on one device but only want to sync certain things to a device like a phone that has less storage space.
i have a synology network drive that has a music server built in. its also fairly easy these days to get a VPS server up and running and install something like navidrome/funkwhale/airsonic. they all have docker containers as well which can make the whole process a bit quicker.
things like tailscale/zerotier let you access the music library on your server from anywhere with an internet connection.
beets/musicbrainz make it easier to manage metadata and album art.
Then you have artists like Kanye who are essentially versioning their music. It's happening more often and might render CD's as an incompatible or undesirable media.