Comparing Server vs local installation is tricky as there are many factors influencing the workflow executions. And probably there is no correct answer and it depends a lot on the setup of the server:
On the positive side, the Server typically benefits from a better infrastructure, (probably more RAM and CPU than your laptop/computer), compute power typically fully allocated for running workflows.
Negatively impacted is the server by running concurrent workflows. And probably the workflow is put in the queue.
For cloud connection like one drive/s3/sharepoint ... the internet configuration and setup will also have an impact.
For one drive in particular - I remember that there is some kind of caching speeding up the pulling of the data.
