Before starting the formal review:

1. the foundry is supposed to be set from the foundry property in fontconfig though, "PfEd" is too generic. if upstream doesn't have too much fonts shipped by them, you can simply omit that field. or if "Terminus" is a unique name enough, you can use it instead, like DejaVu.
2. please set correct family name to the family. that should be "Terminus (TTF)". this affects the AppStream file and the wrong name there makes harder to find out the exact font name through AppStream.
3. You don't need "<test name="lang"...><string>en</string>" thing in config.

Thanks for your feedback. Checking with upstream.

BTW those are basically Fedora specific thing. I'm not recommending updating the foundry to something. that would be totally optional and there are some exception like "ADBO" vs "Adobe". that depends on how we are identifying. but the proposed name is too long.

Thanks for your feedback.  There are other Terminus fonts. When changing the field in FontConfig, it indicates upto 4 characters should be used.  Thus rather than Tilman Blumenbach, have used TiBl, checking with upstream on this. A few of the glyphs have self intersections and some seem to be incorrectly labelled.  Have not tried to correct these, but can do so if that is typical. Updated spec and srpm:

SPEC: https://download.copr.fedorainfracloud.org/results/fed500/tilman-blumenbach-terminus-mono-fonts/fedora-rawhide-x86_64/04995077-tibl-terminus-ttf-fonts/tibl-terminus-ttf-fonts.spec
SRPM: https://download.copr.fedorainfracloud.org/results/fed500/tilman-blumenbach-terminus-mono-fonts/fedora-rawhide-x86_64/04995077-tibl-terminus-ttf-fonts/tibl-terminus-ttf-fonts-4.49.2-1.fc38.src.rpm

No COPYING file in the package.

I'd suggest:
--- tibl-terminus-ttf-fonts.spec.orig        2022-12-21 14:46:50.779287851 +0900
+++ tibl-terminus-ttf-fonts.spec        2022-12-21 15:14:25.781055220 +0900
@@ -30,7 +30,7 @@
 It should also be noted that you need to render Terminus TTF in monochrome
 black/white if the outlines are used; otherwise, they will look smeary.}
 
-%global fonts  terminus-ttf-%{version}/*.ttf
+%global fonts  *.ttf
 %global fontconfs  %{SOURCE10}
 
 Source0: %{url}/files/%{version}/terminus-ttf-%{version}.zip 
@@ -42,9 +42,7 @@
 %fontpkg
 
 %prep
-%setup -q -c
-unzip -n %{SOURCE0}
-pushd terminus-ttf-%{version}
+%setup -q -n terminus-ttf-%{version}
 # Remove space from filename
 mv 'TerminusTTF-Bold Italic-4.49.2.ttf' TerminusTTF-Bold-Italic-4.49.2.ttf
 # Update foundry name
@@ -54,7 +52,6 @@
 fontforge -script UpdateFoundry.pe TerminusTTF-Italic-4.49.2.ttf
 fontforge -script UpdateFoundry.pe TerminusTTF-Bold-4.49.2.ttf
 rm UpdateFoundry.pe
-popd
 
 %build
 %fontbuild

Thanks. Checking with upstream on naming and registration as a foundry.

License is packaged. In the installed package it appears in:
usr/share/licenses/tibl-terminus-ttf-fonts

Waiting on upstream about naming and registering. 

spec: https://download.copr.fedorainfracloud.org/results/fed500/tilman-blumenbach-terminus-mono-fonts/fedora-rawhide-x86_64/05166718-tibl-terminus-ttf-fonts/tibl-terminus-ttf-fonts.spec
srpm: https://download.copr.fedorainfracloud.org/results/fed500/tilman-blumenbach-terminus-mono-fonts/fedora-rawhide-x86_64/05166718-tibl-terminus-ttf-fonts/tibl-terminus-ttf-fonts-4.49.2-3.fc38.src.rpm

BTW just waiting for the progress on upstream though, I want to bring this up to be sure.

Registering the own foundry name isn't a must. we are considering to pick it up into the package name because it would be easier to recognize if a font is a part of variants/series of fonts made by same font developers/authors - for example, we use the same the foundry prefix in a package name as "google" for google-noto-fonts and google-noto-cjk-fonts.

The question is that do we have another variants/typefaces made by same authors, particularly which can be used together such as sans-serif, serif, and monospace, and/or regional typefaces, etc? if this is a single font or other fonts isn't that useful to use together, we can simply omit the foundry from the package name IMHO. the family name is basically unique. it wouldn't conflicts anything else.

Anyway, I can do the formal review any time.

Thanks for your patience.  Updated. Upstream has added foundry name.

spec: https://download.copr.fedorainfracloud.org/results/fed500/tilman-blumenbach-terminus-mono-fonts/fedora-rawhide-x86_64/06001771-ax86-terminus-ttf-fonts/ax86-terminus-ttf-fonts.spec
srpm: https://download.copr.fedorainfracloud.org/results/fed500/tilman-blumenbach-terminus-mono-fonts/fedora-rawhide-x86_64/06001771-ax86-terminus-ttf-fonts/ax86-terminus-ttf-fonts-4.49.3-1.fc39.src.rpm