The whole thing make no sense. They plan to store the report on the SSD (but not just any SSD, an HP SSD), so that the telemetry is retained between operating system install. I'll give them points for doing on device data collection, but what if I replace the SSD? Maybe they don't plan on making that user replaceable, but that would work against what they are trying to do here.
Honestly if HP cared they would make the device more easily serviceable by the end users, and upgradable. Even that doesn't matter a great deal, beyond having companies slow down their upgrade cycle slightly, there's no real gain. Right now I'm looking at used laptops, but the local refurb place have apparently scraped all their laptops that are unable to run Windows 11. Without the software companies putting in a bigger effort to keep old devices viable for longer I don't really see who's suppose to buy all these old HP computers.