Gregory's Server
If you're on Linux 🐧 then there's a command-line program called dvdbackup. With the -M (“mirror”) option, it rips the entire disc, decrypts it, and places the content in a folder. VLC can play from that folder with its “open directory” command. DVD menus will still work, as they did on the original disc.
Note that this produces a *folder*, not a single file, and it will be about 8GB. There are other options you can use to make a different kind of backup.