Like others have said, file sharing works pretty well with NTFS. I’ve had some issues playing games on steam that are on NTFS drives, but most work well. Also some issues accessing files from Cura for some reason. Other than that I have had no issues sharing files between w11 and Linux.

If you can, I recommend getting a dedicated SSD to install Linux on, and I’d recommend getting PopOS or Linux Mint as your distro. Both are Debian/Ubuntu derivatives, but are even easier and just overall better distros than Ubuntu imo, and most hardware and software will be compatible ootb without any tinkering.