Streaming content downloaded to iTunes during an internet outage.

According to Comcast we can expect our internet to be down for a day or two here.

We have about 2 TB of movies downloaded onto our iTunes PC and iTunes Mac (All up to date).

We can play the content locally as it is authorized, but it seems we cannot AirPlay it to our Apple TV 4K or HomeShare it to other HomeShare devices. We have WiFi connected but again no Internet connection. Is this an authorization problem? A configuration problem? A problem that requires a reset to factory settings? Or is this perhaps by design?

If it is by design of course I'll just bring the computer to the TV.