It takes about 1 minute to cut through any chain or lock shackle with an 18v cordless angle grinder with a $4 cut-off wheel. Locks may stop a casual thief but that is all it will do.
I have the 1Up Super Duty double rack and bought it because it was rated high enough for our two 70 lbs e-bikes and is rated for use with an RV. I got it with the 2" receiver as that is what has been on every truck and SUV I have bought over the past 50 years. 1-1/4 inch receivers may be put on a Prius or similar car but that also limits what racks are available as most are designed for use with a 2" receiver.
Two important advantages of the 1UP rack are that it supports the weight of the bike using its wheels and not the bike frame and the platform mount slopes up from the receiver. The inside bike is well above the receiver and the outside or rearmost bike is even further off the ground.
For security I use a bike alarm and a bike cover and a cargo net over the cover. A thief is going to spend more time removing the cargo net and then the bike cover before they can see if the bikes are worth stealing and by then they have most likely set off the alarm.
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