B. A Deep Learning VM with 4 V100 GPUs and Cloud Storage.
For this scenario, a Deep Learning VM with 4 V100 GPUs and Cloud Storage is likely the most cost-effective solution while still providing sufficient computing resources for the model training. Using Cloud Storage can allow the model to be trained and the data to be stored in a scalable and cost-effective way.
Option A, using a Deep Learning VM with local storage, may not provide enough storage capacity to store the training data and model checkpoints. Option C, using a Kubernetes Engine cluster, can be overkill for the size of the job and adds additional complexity. Option D, using an AI Platform Training job, is a good option as it is designed for running machine learning jobs at scale, but may be more expensive than a Deep Learning VM with Cloud Storage.