Yes, what you're trying to achieve is absolutely possible with Magento 2, though it may require a combination of built-in functionality and a bit of customization.
Since you're hosting the movie on your own server, one common approach is to sell it as a virtual product, and after purchase, grant the customer access to a private CMS page where the video is embedded using an HTML5 player like Video.js or Plyr. You can control access to that page through customer groups or purchase history essentially creating a "members-only" experience just like you mentioned.
For added inspiration, you might look at how apps like hdo box windows deliver a clean and user-friendly experience where users can stream content directly after access is granted. While HDO Box is an app-based service, its approach to seamless content delivery and private access is very similar to what you’re trying to build except in your case, everything would be under your own control and server.
There isn’t a single Magento module out-of-the-box that does all of this, but with some CMS page restrictions, access control extensions (like Amasty’s modules), and secure video hosting setup, you can achieve a rental-like system. If you want limited-time access, you could also use subscription or custom expiration logic to restrict viewing after a certain period.
