My suggestion:
It would be great if we can select a nocookie-checkbox in the video_oembed media entity. With this, all youtube urls change automatic to youtube-nocookie.com urls.
Why automatically?
Because users copy the wrong URLs from youtube.
Source:
https://dri.es/how-to-remove-youtube-tracking
A step further:
Another approach for more privacy is this wordpress-variant:
https://de.wordpress.org/plugins/wp-youtube-lyte/