The excellent guide by drduh should be mentioned here: https://github.com/drduh/YubiKey-Guide — I've been using this approach for years to store my OpenPGP keys on Yubikeys and use them for SSH.

I don't generate my keys on devices. That lets me be flexible and keep backups, as well as use the same keys on multiple physical devices. Using a single yubikey is a bad idea, as you're bound to eventually lose it or break it. Hasn't happened to me yet in 5 years, but I expect it to happen.

I wish more sites supported hardware keys instead of only TOTP tokens, or (heaven forbid, but corporate idiocy is plentiful) SMS.