If you for example consider a typical company security policy this is 100% less secure considering any vulnerabilities in windows itself minus the the attack surface of the different telemetry systems that have been disabled.

If you care not to report your usage to Microsoft or any agency that Microsoft would need to release data to this is 100% 'secure'.

Security has become the main argument for unwanted ongoing spying and patronising by OS vendors. Look at Google play services and/or safety net. It is like trust us or we render your system unusable it insecure. This amounts to blackmailing IMHO and regulators need to step in.