Physical location of 'local'

Look it up in Datacenter > Storage > local or read the file /etc/pve/storage.cfg? It's probably /var/lib/vz(unless you changed it), which is a directory on / (the root filesystem where you installed Proxmox).
It's based on Linux so you can see where / is mounted with the mount command and from there determine which drive it is (on which you installed Proxmox).
 
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I think I got it with lsblk I found out that

nvme1n1 259:1 0 1.8T 0 disk
├─nvme1n1p1 259:5 0 1007K 0 part
├─nvme1n1p2 259:6 0 1G 0 part /boot/efi

where smartctl -a /dev/nvme1 results in (amongst other info)
Model Number: Samsung SSD 990 PRO 2TB

Thanks for your reply
Red