> This program may monitor all of your activity on this computer and track your physical location while you use your computer.
This is just disingenuous.
If you are talking about what could technically be done, then sure, they could do that. But if they wanted to own your machine then they technically could do it the moment you installed any software that they provided regardless of what it says in the EULA.
So then you must be talking about what they are legally allowed to do. And guess what, they also have a privacy policy that limits what information they are allowed to collect and for what purpose they may collect it. Them carving out the legal ability to run programs on your machine for anti-cheat purposes doesn't change any of that.
Now I'm not saying you might not have other reasons for not wanting to run their crap on your machine (I certainly don't want it either) but this here is just FUD and not a good argument.