The screen should be fine as long as you use the tie downs that it comes with.
We don’t recommend to leave it outside for long time periods, elements could ruin it (bend the frame, tear it apart). It shouldn’t be left out in the sun (especially since very few projectors are bright enough to see the image in daylight) or let it stay wet.z
The frame is like metal tent poles so it could be left out, it won’t rust. The screen is just canvas coated in plastic, and can be put up/taken down in 30 seconds and the whole thing can be taken apart and put together in about 10 minutes.
The poles are coated with paint and the screen is fabric, so I don’t see an issue with it getting wet. In spite of its size, it’s lightweight and can easily be moved by two people. It can be also taken apart quickly as well, so at least get it to a covered area (garage, indoors).
For more information please check out our guide setting up a great backyard setup
Or take a look at our recommended projectors and screens