What data? The location history feature in only on briefly while you are setting your Home location and once you turn it off again it stops collecting it. You also can go into your Google account and verify what information (if any) was collected in that window and delete it if you really feel that strongly about it.

This is really just Google using hostile UX to badger people into enabling location history and (in their eyes - hopefully) leaving it on.

It might still be processed in aggregate, but they stop associating years of precise locations to your account.

I’d be surprised if they don’t follow that wish just for PR and legal reasons alone. The fewest people will actually opt out or if they do accidentally opt back in since the “enable web and location data” action appears anywhere from Maps to Google Home setup.