When you toggle that slider, you'll get a message that it may affect your Bluetooth, Wi-Fi, and UWB performance, but it's nice to know the option is there if needed. >>>
Since the last beta, this toggle is available.
I disabled the Chip on my iPhone 11 Pro (using the Beta) and didn't have any issues with Bluetooth and Wifi. Both are working as expected. Regarding WiFi and Bluetooth I can only imagine that Location Services (like BT Beacons or Indoor Wifi Mapping) won't work so accurat now- but i've never used those things before, so i can't twll.
For me the toggle is working great. I turned it off because the location arrow which constantly pops up was annoying me.
I've read about the privacy concerns and i'm happy to have the opportunity now to turn the Chip off and on as i like- what i didn't like was the fact that Apple was trying to hide it before.
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