If you have insufficient local storage for your needs - and using iCloud and associated storage optimisation is impractical - consider using a locally connected USB storage.
USB storage devices offer high capacity and the convenience of [near] immediate access. Depending upon the specifications of the USB storage and the capabilities of your video editing software, you may still need to copy your video files from locally-connected USB storage to the iPad for editing - as not all video and files editing Apps support in-place editing. While this may be minor inconvenience, using USB storage largely removes the speed limitations of cloud storage and the availability of an active internet connection.
For those video and file editing Apps that do support in-place editing, you can edit files without first copying them back from USB storage to your iPad.
Connect external storage devices to iPad - Apple Support
When selecting USB-connected storage for "professional" usage with large files, you may need to consider and purchase external storage that makes best use or the iPad's USB interface and available speed. Recent models of iPad Pro support USB 4/Thunderbolt 3. Selecting a USB Storage that supports either (or both) of these standards will maximise the potential capabilities of your iPad video editing. You would be well advised to consider USB storage that meets at least USB 3.2 Gen 2x2.
By example, assuming that you have an iPad Pro with an M-series CPU, you might consider one of the SanDisk Extreme Pro Portable SSD series that support USB4:
https://www.sandisk.com/en-gb/products/ssd/external-ssd/sandisk-extreme-pro-usb-4-portable-ssd?sku=SDSSDE82-2T00-G25