Since I'm upgrading my whole system as I now have an M1, I'm looking at my backup plan too. About TM, a simple question... If it's always on, doing its job in the background, isn't there an issue, to some degree, with that interfering with running a session in Logic since it must be using some resources to do its thing?
Logic Pro X 10.7. Big Sur. Macbook Air M1 with 16GB Ram and 1TB SSD drive. RME Babyface Pro FS. FMR RNP. KRK RP5. And a few guitars—an old Ovation nylon, an acoustic Larrivee OM3, a Washburn J6 archtop with synth-accces, and a Sigma stringed in Half-Nashville.
Let the music begin.