I was looking into that space recently and I have used otter.ai for transcriptions which gives you 6000 minutes/month for 8 USD, which is insanely cheap in that space. Their British language model is quite good as well.
I’ve bulk exported generated srt/vtt files from my fav podcasts and using tinysearch that was posted here recently with ableplayer to provide audio full text search of my Jekyll published podcasts posts and with clickable timestamps to audio play of search phrases.
Whenever I want to know what podcaster has to say on specific subject a quick search makes such a difference!