Stephen Planck recommends taking the plunge:
Cardinality estimation (CE) is how the optimizer predicts the number of rows that will flow through each operator in a plan. Those estimates drive cost, join choices, memory grants, and ultimately latency and resource usage. SQL Server has shipped multiple CE models over time. The pre-2014 model—commonly called the legacy CE—dates back to SQL Server 7.0. Starting in SQL Server 2014, Microsoft introduced a new CE and has continued refining it in later releases, including SQL Server 2022. Keeping the legacy CE turned on in SQL Server 2022 is usually the wrong long-term choice.
One thing to note is that the “new” cardinality estimator has been out for a decade. It’s not really that new anymore, and it’s not going anywhere soon. Yeah, there are still trade-offs where some queries are better on the legacy estimator, but for the people who use that as their reason for not using the new estimator, what have you done in the past decade to address this and tune those queries to work better? If the answer is “nothing,” it’s not the cardinality estimator’s fault here.