h1.4xlarge is AWS's storage-optimized EC2 size at 16 vCPU and 64 GiB. In the name, "h" is dense HDD storage, "1" is the generation and "4xlarge" is the size within the h1 family. It runs on Intel Xeon E5-2686 v4 (Broadwell) at 2.3 GHz, and AWS introduced it in November 2017. h1 is the current generation of the h family, so there is no newer AWS size to migrate to. On Rackspace Spot the same shape is gp.vs1.2xlarge — 16 vCPU, 64 GiB, matched on both dimensions, $0.936/hr on AWS in US East (N. Virginia), from $0.041/hr on Rackspace Spot.
Match qualityNo local disk
h1.4xlarge comes with 2 × 2,000 GB HDD attached to the machine. Rackspace Spot nodes use network storage only, so that disk does not come with it.
If you were using the local disk as fast scratch space — temporary files, a local cache, an index — you will need a persistent volume or object storage instead, and both are slower to read. If it was just extra space you never depended on, nothing changes.