Each connector is unique and there is no official high availability option yet, meaning if the connector goes down there is no backup connector that can take over.
It sounds like you are running the connector on your own workstation though? If that is the case that indeed does not sound optimal even though possible. You should have a Windows Server running your connector.
If one server with the connector should go down you could power up a new one and perform a backup/restore:
https://learn.microsoft.com/en-us/universal-print/fundamentals/universal-print-connector-backup-restore
If you have newer printers they hopefully have UP Ready support.
In case all of your printer are UP Ready you don't need the connector at all and then won't have to worry about server HA.