I'd upgrade the NAS to full server status and run everything from there. For most people, there's not much point in separate devices. It just adds a point of failure.
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Either works fine for most homes. for most homes everything on the nas makes sense as that saves energy vs a second always on box. For enterprises you want them separate because you can't get cpu's powerful enough.
If I had a dedicated NAS and a server for the services, I would choose the consistent path and keep it separated. So I would run nextcloud and jellyfin on the server and let them access storage on the NAS.
I run separate systems - OMV-based NAS for storage, and a small Proxmox cluster that runs all of my services.
The NAS provides NFS mounts for any relevant service. Works fine.
I keep my Linux ISOs on mergerfs over NFS via open media vault. All of them are easily replaced so I don't bother backing them up.
Nextcloud, paperless, and photos get their whole image backed up on proxmox local, and a remote PBS. I'm the only user so the sizes are quite manageable.
With TrueNas you can do it two ways: ISCSI disks that are mounted to the VMs or via NFS. With ISCSI you won't have access to the data from the TrueNas side as the data will be stored as a volume file. With NFS you get the best of both worlds as you'll be able to access the files via other TrueNas services like SMB/SFTP. I have my Jellyfin/Plex running via NFS and have few issues, though I've not tested it with large 4k/8k videos yet. I mostly run 1080p.