Dear @strayorbit
Unfortunately this is not possible from the standard options provided,
However if you have have a basic understanding of HTML, CSS & JS you can fairly easily implement this onto your page through the "+ More - HTML" option within the Gridder -
Screen Shot 2020-09-14 at 2.50.29 PM.png
Alternatively you can use "Custom CSS & HTML" in "Lay Options"
Screen Shot 2020-09-14 at 2.51.54 PM.png
Adding a Video through Custom Code:
https://www.w3schools.com/html/html5_video.asp
With this option you have much more flexibility over how you control the video along with options to add a loading Gif:
https://stackoverflow.com/questions/8230748/how-to-add-loader-image-to-html5-video
For more information regarding CSS:
https://laytheme.com/documentation.html#custom-css-styling
Additionally when using Javascript we need to remember to load it into Lay Theme with a "Newpage Event" :
https://laytheme.com/documentation.html#custom-javascript
Also if using jQuery, to replace the shorthand symbol '$' to 'jQuery'
If this becomes too problematic you may wish to seek the aid of a developer.
I once again apologise that the option isn't as easy and that i cannot help further with Customisation,
however if you have any further questions please feel free to ask :)
Best Wishes and thank you for using Lay Theme
Sincerely
Richard