3.) Using the Boot CD

For testing you can use the Boot CD in a Virtual Machine (VM).
We will also release ReactOS-only-VMs for testing...
You can use VirtualBox as a VM: https://www.virtualbox.org/

If you want to start the UWBCD-R (or the ReactOS-only-Image) from a CD/DVD, then 'Ashampoo Burning Studio FREE' is maybe the tool you want to use to create such a disc.
https://www.ashampoo.com/en/usd/pin/7110/burning-software/Ashampoo-Burning-Studio-FREE

If you want to start the UWBCD-R (or the ReactOS-only-Image) from a USB-Stick, then Rufus is maybe the tool you want to use to create such a stick.
(Also: You can create with Rufos such a stick with the VHD-Image!)
https://rufus.ie/

If you want to use also a software were a Boot CD exist for (e.g. Antivirus Solution), then you can have a look at this Guide about making a Multiboot-USB-Stick:
https://github.com/LV-Crew/Multiboot-USB-Stick