Even better download it, subset it then base64 encode it into your CSS for zero FOUC.
https://damieng.com/blog/2021/12/03/using-variable-webfonts-...
https://damieng.com/blog/2021/12/03/using-variable-webfonts-...
Not doing it is also nicer for people with slow/unreliable network access, where they can block fonts, or even if they don't block them, can access your page more quickly and have a render without the custom font.
Not if the font data is in a style tag in head, or otherwise before any content that's display might need, or be indirectly affected by, the font.
It will delay first paint on slow connections (all connections, in fact, but on a strong link you'll not notice) though.