You can put the audio component on any actor that’s in the level - ideally the same actor that has the logic shown above so you don’t have to communicate between blueprints.
Using a sound cue and audio component is very easy. In the blueprint, add an audio component. Then point it to your sound cue (if it’s a wave file and not yet a sound cue, right click on the wave and “create cue”). Now if you drag the audio component reference into your blueprint graph, you can play/stop/adjust volume etc on that audio component. It’s not that different to what you’re doing, but you are currently spawning the sound and I’m less familiar with that method. Adding an audio component or audio actor in the level would be a more standard approach anyway. It’s much easier to keep track of what is playing and how if you know it’s always being routed through an audio component.