Hi and welcome, that depends on how you have launchbox setup. If you have your roms and emulators located in the launchbox folder then you can just copy the whole folder to another pc or hard drive with no issues. However if everything is in different locations then you may need to redo it on the new location. However this would be easier and quicker the second time as you can copy your images and videos to the new location and re-use them, this is what takes the most time when importing, downloading images and videos but once you have them you can copy and move them.
As for the hard drive, I have the 5tb version of that drive which I keep my roms on its been fine for me. However I have only had it for 5-6 months so can't comment on its reliability.