Only distribution.
But even if distribution is required to trigger the law - you are free to distribute fine-tunes of most open weight models.
Depending where you are it might be "DRM circumvention" all the way up to some bollocks hacking charge.
It's pretty murky in places because lots of copyright laws protect DRM but also have carve-outs for personal backups.
But even if distribution is required to trigger the law - you are free to distribute fine-tunes of most open weight models.