As per https://learn.microsoft.com/en-us/azure/azure-resource-manager/management/move-resource-group-and-subscription , the content of the storage account (data plane) will be accessible during the migration. The management of the storage account (control plane) will be locked (unavailable) for a maximum of four hours, but most moves complete in much less time.
If the move fails, the storage account will remain in place.
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hth
Marcin