A password manager can be considered critical infrastructure; beyond privacy and uptime/access considerations, you should also consider what happens if you lose all of your data - Do you have backups? Are the backups 3-2-1 redundant? Do you have a ready-to-go docker compose to get yourself up and running locally in a pinch?
I self-hosted bitwarden (vaultwarden) for several years and it became evident to me that it was important enough to use the hosted service - especially as I was already paying Bitwarden to support their open source business.