Since all of the game data exists on the cloud server, time-consuming downloads and constant updates will not be required for Phantasy Star Online 2: Cloud. It will run at 30 frames per second, but there may be lag depending on network conditions. That being said, a stable Internet connection is required to play. The Switch version cannot play quests with models outside of the PC version, but since all accounts use the same Sega ID, Arks Cash and Star Gems can be shared across models. You can also switch between models as you please as long as you are not logged in at the same time.
Thanks, GAME Watch.