Hover state of a freeform

I don't think it's doable. Once the video starts playing, it will continue even if the object containing the video is no longer being hovered. Eventually, the video will finish and won't loop, because additional triggers cannot be set up once the video is inside the object's state. Although you could play the video again when it's clicked, but not when the object is being hovered over.

What you can do is place the video on a separate layer, which will be shown when the object is hovered over and hidden when the hover ends.

In the video layer, you can create a trigger to play the video when it completes, creating a loop effect.
Here is the visual demonstration:

This approach will ensure that the video is always displayed and plays when the other object is hovered over.