The best way to customize a template file from a third-party module is to create a new theme that inherits from the parent theme and override the template file in the app/design/frontend/Custom/Theme/Vendor_Module/templates directory. This way, the customization is isolated from the original module and can be applied to a specific website or store view. Creating another layout file or a new module would not be as simple or flexible as creating a new theme. Reference:Frontend development guide, [Create a theme], [Theme inheritance]