Nivritti Suste grabs the bits:
Beginning with SQL Server Management Studio 21, Microsoft stopped providing the direct download package/binaries to install SSMS, instead it just downloads the SSMS installer. This installer then starts the installation of SSMS and downloads what is needed to install SSMS. Sometimes there may be a need to do an offline installation where you do not have access to the internet. In this article, we walk through the steps to do an offline install of SSMS.
I would have been curious about how large the installation folder is, considering that it grabs all possible options.