I have a 2021 24" iMac and occasionally I hook up a second monitor for certain projects. Most of the time I just use the built in display. The second monitor connects through a CalDigit TS3. So for those times I not using the second monitor I usually unplug the DisplayPort connection and turn off the power to the second monitor, to save system resources. I was curious if I really need to unplug the display port or is turning off the power good enough. When it's powered off It does not show up in the System Preferences.