If I self host a Lemmy instance for just myself and maybe a few friends are there any risks? - eviltoast

Looking to maybe self host my own instance, I’m still learning about the fediverse. If a different instance that I federate with hosts something illegal are there risks to me? Is anything from other instances hosted on my server like a copy of it? Or would I only end up hosting things my users post? I’m paranoid and sorry if this is a silly question.