Sell access to an online product, or a download?

Hi all, first time asking for help :)

Got a product idea in the model of "SOPs/checklists/resources". I'm now torn between providing it as an online app, or a downloadable.

Online
User has a login after payment, they can filter/search/save progress etc. I will constantly update it with new material, expand with new features etc.

Download (Spreadsheet/Notion)
They take ownership of it, can customize it as they wish.
Cons - can be shared/posted online. Doesn't automatically update with new stuff.

Do people like to feel they own something fully, and be protected from a business disappearing.

What has more value?

Many thanks