RonE Family license is basically a pack of 5 licenses with one serial number and registered to one email. And yes, a great discount too. So yes, this is its intended purpose to be activate on several PC’s at the same time within family.
All the editing you do is being stored in your drive (except Albums, those are pure virtual and stay only on one PC). However, once you make separate copies, from that moment, all further editing will stay with those copies only. Hope that makes sense.