There are remote-location settings, which is mentioned in "Remote storages configuration in FOLIO" and https://issues.folio.org/browse/UIRS-6. In order not not have unclear policy of eviction for caching of these settings they should be managed by the module itself.
The data should be stored in database and saving in the cache.
Spring Cache - should be used as abstraction for cache.
If there should be more than 1 instance of mod-remote-storage deployed, Hazelcast should be the implementation (as Hazelcast is used on the project) for cache management and eviction.