A hardware wallet you can easily buy already at under 100$. It doesn't have to be the fanciest and most "offline". Of course, the more money you want to keep on it, the more it makes also sense to not get the cheapest HW.

Why? Because of the peace of mind. Because it's convenient and you can use same known setup even when you travel. Because ... better safe than sorry.
Yes, both can be hacked, but for HW they need physical access or the owner doing something really-really stupid. And yeah, Electrum works with HW too, at least on PC.