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Keep in mind that even with Family Share only one user can access a game library at any given time. The owner will take priority and if a lender is playing right now, they will get a five minute warning before the game is forcefully terminated.
Family Library Sharing
Family Sharing allows family members to share games while keeping their accounts separate.
Family View
Family View is a feature for parents and families to establish their own rules for what components of Steam are accessible.
My kids have their own laptops they require for school, they play on their own devices with their own accounts. We also have consoles, for example a Switch, so we rarely are in each others way here.
You can not transfer games you own on one account to another.
Your best option is to do as you're considering and get them their own computer for their games, buy them their games on their accounts or gift the games to their accounts from your account. It's probably best you buy their games for them on their accounts to unlock their accounts so their accounts aren't limited. Each account has to spend $5 on the Steam store so they can participate on community hubs (forums, add things to workshops, etc).
Tierra is on sale right now for under $4 USD. It would be wise to create their account now and gift the game to them now while it's on sale.
https://store.steampowered.com/app/1686980/TIERRA__Mystery_Point__Click_Adventure/
They don't need to have the computer yet to receive a game as a gift. You can create the accounts with your computer and add them to your friends list from their account's profile and gift them games that way if gifting instead of buying from their account is how you decide to do it.
Steam FAQ on gifts:
https://help.steampowered.com/en/faqs/view/2C02-3563-B72F-F117
Steam FAQ on limited (new) accounts:
https://help.steampowered.com/en/faqs/view/71D3-35C2-AD96-AA3A
Steps:
1 login with both accounts on said PC you want family share on.
2. login to your 1st account, enable family share, check the box for your 2nd account to family share with, then logout.
3. Login to your 2nd account, enable family share, check the box for your 1st account to family share, then should show your games from your 1st account in the library. Please note not all games can be family shared.
- if OP playing single player games, and kids playing online games, then OP can set client to offline, which doesn't affect the kids that family sharing.
- If OP want to play multiplayer games then yes it conflict with family sharing. To which OP can just buy the game for 2nd account, then there no more conflict from that point on.
As far I seen OP say want to play cyperpunk, so family share wouldn't be a problem in this area. And assuming kids want to play multiplayer online as that often the go to these days, it make sense what OP has to do.
There is no other way around it.
You bought licenses to access games at the terms of the service they are connected to. Valve dictates the terms together with the game developers/publishers.