We frequently get asked by content creators how they can download their source media from Panopto for backups or other purposes. Once a video has completed the "Podcast processing" in Panopto, anyone with the "creators, admins, or videographers" will be able to download the media (Note: you can make that more permissive in the settings for the session or folder).
Panopto Support maintains this article on How to Download Video or Audio Streams as MP4s.