The whole desktop team here at the college is concerned about W11, and they have Azure running for everything... I have a local little network all to myself and I am very concerned about how things may need to change. Hoping that within the next 4 years Microsoft listens and helps some of us out, I want to be able to provide our department's services to our students when the internet connection is out, we've already seen that once since we switched to Azure and Office 365 for most everything. Not a happy day at work when this happens.
What I can tell you so far is Server 2022 is OK, you can run this locally without issues. But the TPM2, secure boot, etc. requirements with Win11 is going to make this slightly more challenging for my little system.
Here's a thought that might get you out of a tough situation... Could you run Server on these machines? Typically it is supported for longer, and at this moment doesn't require the newest hardware. And that said, IOT would be nice to have, I have some "appliances" that should be running an IOT or embedded OS but currently run Win10Pro, some of them I just received a few weeks ago that were built to order. That should be fun in another few years!