It may be 1.52 and 1.53 combined if it's that big. 1.53 is only 423mb on ps4.

Why are you making a new volume for each VM? I'd just create one big volume for all VMs to live in. Doing it your way seems like a lot more work and you're losing a lot of storage to overhead for not much reason I can see.

Generally I try to not overcommit the raw storage much, and each VM no more than 80% usage. I suspect your overhead for the backups wouldn't be an issue if you had a single volume for all, it's likely temporary snapshot space but if you had it all on a single volume it wouldn't all be needed exclusively and concurrently

You can absolutely use SR (Storage Replica) to build a “poor man’s” Windows Server Failover Cluster (WSFC). See the example below where guys used SR to cluster SMB3 file service.

https://www.starwindsoftware.com/blog/part-1-storage-replica-with-failover-cluster-and-file-server-role-windows-server-technical-preview

This is how the process can be guided. As much as it can be, of course.

https://www.virtualizationhowto.com/2019/11/windows-server-2019-storage-replica-failover-process/

The problem is SR was intended to be used as a DR (Disaster Recovery) solution, not as an HA (High Availability) one. SR is not very flexible, needs some babysitting, quite seldom used, and requires Datacenter edition (except anemic 1TB edition included into Windows Server Standard). Not recommended. This is what Microsoft has to say.

https://learn.microsoft.com/en-us/windows-server/storage/storage-replica/storage-replica-overview

Bottom line… If you already paid for Datacenter you can try S2D (Storage Spaces Direct) thing, which is for brave people only as it’s not reliable still, or you can use Virtual SAN (vSAN) which is free and can be used not only with Standard, but with a free Hyper-V Server.

https://www.starwindsoftware.com/starwind-virtual-san-free