Suggested Answer:
Biometrics templates are stored locally on a device. Reference: https://docs.microsoft.com/en-us/windows/security/identity-protection/hello-for-business/hello-overview
The thing that is saved on the TPM chip (if present) is the secure key. If a TPM chip is not available, software-based techniques are used to secure the key. (see https://learn.microsoft.com/en-us/windows/security/information-protection/tpm/how-windows-uses-the-tpm#windows-hello-for-business)
I also couldn't find a source that explains where specifically the biometric data is stored. Microsoft just says, "on the device": https://learn.microsoft.com/en-us/windows/security/identity-protection/hello-for-business/hello-faq#where-is-windows-hello-biometrics-data-stored
The Windows Hello authenticator works to authenticate and allow employees onto your enterprise network. Authentication doesn't roam among devices, isn't shared with a server, and can't easily be extracted from a device. If multiple employees share a device, each employee will use his or her own biometric data on the device.
https://docs.microsoft.com/en-us/windows/security/identity-protection/hello-for-business/hello-biometrics-in-enterprise
Here is the statement from your link:
The biometric data used to support Windows Hello is stored on the local device only. It doesn't roam and is never sent to external devices or servers.
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