Are CoW snapshots the solution to safely pull data from critial OLTP databases for reporting?

Question

Our IT team copies data from mission-critical SQL Server OLTP databases in what seems to be a naive way - basically just INSERT INTO ... SELECT * every night. We use this copied data database for reporting. This is unsatisfactory for various reasons but we're told it is the only way because uncontrolled user query execution could compromise OLTP performance & data integrity. I want an improvement that still addresses their concerns.

Copy-on-write snapshots are the best solution I've read about (we don't need up-to-the-minute data for reporting), but please comment on the following:

1. The snapshot's sparse files should be placed on a separate physical drive (so that snapshot reads/writes can occur without limiting disk throughput for OLTP tasks).
2. There should be a single NTFS filesystem spanning all physical disks (on a hunch that would work better than putting the online database its snapshots on logically separated volumes).
3. Create the filesystem with the /L:enable flag (so it works better with large sparse files).
4. Avoid multiple snapshots (since original data would have to be copied to each one).
5. We could use a single snapshot MyDB_LatestSnapshot that could be deleted and very quickly re-created every day, or even throughout the day (so long as kicking users running reports off it is acceptable).
6. Since the database snapshots will always be recent, most data will not have changed and so it will still have to be retrieved from the same drive as the online OLTP database, so increased resource (CPU/RAM) use is inevitable. Won't a long-running reporting query that pulls years of historical data (including data that hasn't changed and therefore doesn't exist in the snapshot) block writes just as if it were running against the online database?
7. Is there any way to tell SQL Server to prioritize resources for the needs of the OLTP database?
8. I've found examples of how original rows are copied from the online database when they're updated, but how do snapshots handle structural changes in the new database, like new/altered tables, indexes, etc.?
9. Can snapshots have different user permissions versus the online database (so that users can read from the snapshot, but not the online database)?

The OLTP system runs core banking applications, so I understand utmost caution is justified, but I can't believe the current approach is best practice in 2022.