I’m not sure about the portainer specifics but essentially yes. The VM running docker will need the storage and then each container will need a volume mounted to them from the host. In terms of where the media is inevitably stored, that volume can be mounted by multiple containers so they can all see it and do what they need to.
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Bit of personal advice: host the arr suite directly on a machine. Don’t use docker.
I know others here are smarter than me, but I had a LOT of trouble when I started getting -arr apps to play nice between a temporary disk (temp destination) and my network drive (final destination) from within docker. Lots of permission issues.
It sounds like you’re already there with “give the VM on proxmox a bunch of storage” but thought it worth calling out.