After enjoying Adobe Photoshop Sketch for many years I congratulate you on the new and improved Adobe Fresco app BUT I will refuse to embrace it as it forces me to PAY for cloud storage which I neither want nor need for my art projects. I am perfectly capable of exporting my projects to my other devices and platforms myself and do not want them to synch OR would select that as an OPTION if I so desired. I will not be using Fresco as long as we can't choose to save locally ONLY. I will continue to use Adobe Sketch as long as I can and will move to Procreate entirely when I can no longer access Adobe Sketch. Procreate does not hold me hostage. I would gladly PAY for Adobe Fresco instead of having it free if I could select to save locally ONLY. I know I am not alone in this request for this feature.
On the Home screen of Fresco if you tap on the three dots you can choose 'Make available offline'. This to me means that the file will not go to the cloud.
Try that out and see if it serves your purpose.
Oh and the forums are mostly responded to by other users so we're here to help with the app, we can't get Adobe to change anything. Best way to do that would be to post a message on UserVoice page which you can access through the Help > Suggest a Feature section of App settings.
I think the "Make available offline" option mentioned above by @Sjaani will indeed cause the file to be stored locally, but I am quite sure the file will always be stored in the cloud using Fresco - that's just the way it works. If you pick up Fresco on another device, or open it on the desktop, all your work will be there waiting for you.
I don't see any risk of being held "hostage." Your work is available offline if you want it, and even if you lose your device, you are free to download on another device at any time. This basic cloud backup is built into the program and doesn't require you to purchase extra cloud storage above what is provided by default along with the app subscription.