I recommend at least 2 drives, physical or logical. 2 physical drives are better.
First drive, in Windows usually the C drive, for speed is an SSD, is the OS and any installed software. Second drive are the data files. At least BACK UP the data files.
This way, if the PC drive fails get a new SSD. If physical drive reinstall the OS and programs on the new C drive. Data on the second drive is still present. May need to reassign drive letter to the data drive using Computer Management tool in Windows.
If logical drive, partition as appropriate. Install OS and programs on the C partition. Activate OS and programs. Then, restore the backed-up data to the other partition.
Reason I recommend 2 drives? Save time, and space, backing up. Only backing up data. Skipping backing up OS and programs as these are able to be reinstalled.
Test the restore and become familiar with the backup and restore. One of the worst things to encounter is the restore doesn't work, the boot USB doesn't work, when these are needed. Resolve/understand these items before actually needing.
Of course, best option is to take image backups of all partitions, both physical and logical using either 2 different encrypted USB drives or the cloud.