So I am assuming that yes, it will be install-able and not completely cloud dependent.
Office Pro Plus, the cloud-connected version of Office, delivers the most productive and most secure Office experienceówith the lowest total cost of ownership for deployment and management. However, for customers who arenít ready for the cloud, Office 2019 provides new features and updates to the on-premises apps for both users and IT professionals
. Like Windows Long Term Servicing Channel (LTSC) releases, Office 2019 provides a set of valuable enhancements for customers who canít be cloud-connected or receive regular updates.
Also see link below from Microsoft named "Download and install or reinstall Office 365 or Office 2019 on a PC or Mac"