Do not treat egress as a decorative window
An emergency escape and rescue opening has a life-safety purpose. The exact requirements depend on current code and the room configuration, so verify them for your project.
The opening affects more than the glass
Creating or enlarging a basement opening may involve foundation cutting, structural details, a window well, drainage, exterior grading, and interior finish repairs.
Plan egress before the bedroom layout is final
The location of the opening influences furniture, privacy, natural light, and circulation. It is much easier to coordinate before framing and electrical work are complete.