With Trados Studio 2021 and Trados Live, you have the ability to create a 'Local Project'.
When creating Local projects, its important to remember these cannot be opened in the cloud/online editor.
From the Projects View- Select New Project -Local project
Select your project folder
Select required Translation Memories (local) and Machine Translation provider(s) as required
Select Termbase(s) provider(s) as required
And Finish.
The option of opening in the cloud is disabled.