This is what I have done. Pixelfed has the option to assign a license to individual post, so it should not be that hard to implement the same for the rest of the fediverse.

I mainly choose the noncommercial license to stop big actors like Meta from displaying my content alongside their ads. They probably will not respect it, but if this becomes the standard on the social web, we might have some collective leverage down the road, i.e. for a class action lawsuit.