The basic Vimeo membership does not allow any privacy options for the video. However, if you upgrade your Vimeo account to Plus or above then, the plugin will use all the privacy-related options offered by Vimeo namely:
1) Hide the uploaded video from vimeo.com so it cannot be directly viewed on Vimeo even if the link is shared.
2) Protect the video from being embedded on any other site except your own WP site through the Vimeo Domain-level privacy feature.
3) Remove the share button and Vimeo logo from the embedded video.
Hence, your recording video will only be accessible on the meeting page of your own site.