IIS Server Setup for Beginners/Newbie for .NET

IIS(Internet Information Services) is Web Based Server used for Hosting the Web Sites.
IIS simply uses the .NET Framework 4.8(which is latest) and hosting bundle for Hosting the Web Sites and .NET Core for Hosting application build in .NET Core.
Link to Framework is in below:-

https://docs.microsoft.com/en-us/aspnet/core/host-and-deploy/iis/hosting-bundle?view=aspnetcore-7.0

However in General Web Server is just similar to your local computer.

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IIS and Application Pool:-

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Generally a local machine in case need a user to run the System , In your case you are using your own local machine so you yourself becomes the User.
But in case of the IIS Server we have Application Pool who which run/operate in our absence the whole server depends on Application Pool

Sites:-

If you want to configure for your website all we need to do is to configure Physical Path of the website(As you know IIS server itself is the Computer).
Keep all your Code(Build) and Script in a specific Path in any Drive , Ensure that we Application and IIS Application has the permission to Read, Write and Modify (Incase if you want to store any file on IIS Server will allow the same through Application Pool)
Then you have to bind you website incase of Http and Https we have specified ports in the IIS.

Some more configuration are required but this is the Basic requirement from where you can start your configuration for Hosting your own website on local.