iTunes Match and Media files storage location

• How can I return all Media files that were previously downloaded and removed from the iTunes Match cloud. They now reside in the Media Folder on my local Macbook Pro. I now want them stored only on the Cloud to open up space on my hard drive. (Assuming it is safe and advisable to do that).

• Am I correct in thinking that the iTunes Match Cloud is not the same as the iCloud space that appears in my Finder—the one I subscribe to monthly from Apple for extra storage space for files, etc?

• Is it best to keep my Music Library in its default location on my local Mac or to move it to another location? (Does it even matter much?)

I have an M1 Pro MBP 14" running macOS Sonoma 14.4.1

At my age I really oughta know this stuff, but the ole gray matter just ain't what it used to be.

Thanks.