Memcached - Virtual IP assignment

This may be an obvious answer that I am just not finding in the documentation but, for the purposes of having memcached configured and using keepalived functionality (active/standby), virtual IPs are mentioned.

Is this just a random address that needs to be assigned? Furthermore, is memcached just meant to be running on the primary server or does it need to be separated out into it’s own separate VM/nodes. We’re trying to finish getting setup of Seafile up and running for internal usage but finding some of the smaller bits to a little unclear as far as configuration goes. Any help offered is appreciated.

Working with Seafile Pro Server installed on Ubuntu 18.04 (Virtual machines) in Proxmox

yes, unless you have a HA setup.