There's no built-in feature that lets you download Instagram Reels from other accounts, but there are a few simple workarounds.

Instagram Blend lets you create a shared Reels feed with friends in DMs, offering a personalized content experience. To use it, simply join a chat, invite friends, and enjoy curated Reels together.

You can easily delete Instagram Reels you've posted so that they'r no longer viewable on your profile, other users' feeds, or the Explore tab.