Depending on what you want to use it for, the device and the ROM is one aspect, but secondary to that is the online services and apps accepting your device. I think android ROMs are a dead-end now because of aspects like safetynet/play integrity, unless you put the work into countering/spoofing them a lot of the tasks people use phones for now such as online/accounts/payments require the device to appear untampered/modified for security purposes. I have my old 2018 phone on android 14 via an unofficial lineage build because there was the freedom to do that, but I expect a bunch of apps will also make use of their freedom to deny me entry.

If you're only using it for on-device tasks then you're probably fine, although at that point the benefits of updating a ROM are probably marginal