[Anshul Agrawal} “What if I build a new pc machine and put this m.2 as a local drive apart from the new os drive?
I can still put my license on a second machine as I never did till now.”
Yes that is what I would try under your circumstances. The database is usually on your system drive unless you changed the default location. This file can be copied and used to overwrite the new Resolve install. You shouldn’t need to open the version of Resolve you have on the M2, just copy the database.
Backing up the whole database each day can get messy as it gets bigger. My practice is to backup my individual .drp project files regularly as I work on them and the whole database monthly. The bonus to doing the regular project backup is that I rename it, adding the date or other details so I can restore it along side the current version of the project if I find I have need to reference the earlier version.
My backups go to a Raided NAS and a separate internal HD.