Given that the Evolved and rEvolt projects are not currently being worked on, I would also recommend to look at "TMW Classic" for now (we've gotten rid of the "Classic" name btw, but the documentation, especially https://wiki.themanaworld.org/wiki/Deve ... to_Develop, are not updated yet).
How hard would it be to develop a brand new world using TMW's tech?
I think this should be relatively easy. Even though I'm not aware of a quick configuration template to get a minimal server running, you could probably just take https://git.themanaworld.org/legacy/serverdata and start trimming from there.
Compiling, installing and running tmwAthena also isn't much of an issue, especially after the recent updates fixing support for Python 3 and the addition of CMake as alternative build system.
What's the license behind the TMW art assets, which I want to use as placeholders until I have something of my own?
They're released as GPLv2, though many of those assets also have alternative licenses granted by their authors, most commonly CC BY-SA 3.0. See the "licence.md" in the "clientdata" repository.
What scripting language do I use server-side to make the game tick, or do I need to get my hands dirty with c/c++?
tmwAthena has its own scripting language. The replacement server we've been writing (https://gitlab.com/manasource/manaserv) uses the Lua scripting language. Manaserv is used to run https://www.sourceoftales.org, and could be considered as well (it also relies on a wholly different client at the moment, though).
Where do I host the game once it's ready for public use? Having it on a localhost is fine for development, but I want to have server running 24/7.
You'd generally rent a VPS. A small server doesn't need much so you could probably find a suitable service for less than $10/month and you can scale it up with demand.