What size/type was the original battery?
"Deep cycle battery" is pretty much a marketing term used to sell crappy lead acid batteries to unsuspecting customers. Quality batteries will not advertise themselves as "deep cycle".
It's much better to focus on the battery technology than the buzzwords. "Calcium batteries" and "nano carbon batteries" and "silver" whatever batteries are also just marketing crap since every battery today contains many metals/minerals to optimize performance.
The battery I linked to uses Gel technology which drastically increases service life compared to traditional batteries. Basically the electrolyte is made into a gel so it does not evaporate, gas out or spill. They have about double the cycle life of AGM (absorbed glass mat) batteries.
How many watts does your TV/Hifi consume on average? A modern TV (+/- 100W) should be able to run 10 hours on the battery I linked to before the battery reaches 50% discharge.
2 hours of loadshedding should only result in 10% discharge in which case the battery could last 10 years (if there is loadshedding once a day)
The one thing that might be of concern is the charging voltage of the UPS and whether it is capable of float charge. Gel batteries are sensitive to voltages above 14.4V so if your charger pushes out 14.7V it's a no go.
If your UPS is compatible it would be a no-brainer for me. A one-time purchase that will last many years to come compared to a generator with moving parts that
will fail after some time (especially cheap brands like Ryobi) which you also have to feed with petrol on top of it (plus it makes noise, stinks the place up, does not kick in automatically and is bad for the environment).
How long have you had it? I had one of those years ago and it kept failing. Luckily Game kept replacing them, think I went through about 3 of them before the original warranty expired.