You can do all of that on a (current gen) M3 MacBook Air. Until recently I was using the M1. It felt slow mostly when I was rendering from DaVinci and using an external monitor, or using Backscatter Xterminator from Photoshop. For most Lightroom photo editing, it was quite usable. I'm sure the M3 is much better.It's a MacBook Air realistic for photo editing with occasional short videos? Or do I need to go with a MacBook Pro?
I did, however, get a M4 MacBook Pro recently, and it's fast. No waiting times for most of the kinds of workloads you're describing, in my experience, while using multiple external monitors. Rendering or using BSXT isn't instant, but close enough, orders of magnitude speed ups easily. Great battery life even when using these workloads. I also wanted the nano-texture display, especially useful for photo/video editing, or using the laptop in brighter environments. Not available on other portables at this time.
If you choose to get the Air, I don't think you'll be disappointed. It's definitely much lighter, so travel is easy. If it weren't for the display, my own decision might've been much more difficult, I'm sure. A final note is that M4 Airs are rumored to get released soon (but, who knows when… could be the Apple event this coming Wednesday the 19th; could be later this year) which might be worth waiting for, if you do decide to go that route.