That's what I recommend. About three years ago, my old MacBook Pro died after 12 years. It was the graphic card, but the hard drive was still good, so I had them take it out and put it in a case, and access it when I needed to.
When I traded in my 2005 Altima, and leased my first new car four years ago, I discovered they don't put CD players in cars anymore. I had to take all my CDs and format them into MP3, and put them all on a USB stick so I could play them in the new car. I've got an old iPhone, and didn't want to use it to hold all my music. Hopefully, your hard drive is still good, and you can get your music off of it, then I'd advise you to save them to a USB stick so you'll have them in the future if you need them. I don't use iCloud or anything to back things up. I just put those things on a USB stick.
“I don’t use iCloud or anything to back things up.”
We don’t use any cloud system for backup, either. I don’t trust the security. (Not that any data is secure any more. I get that.)