It really depends on what you want your CPU to do! I've my own CPU with an OC, and I like to have it at that 24/7. Max performance all of the times. If you want that then leave your 9700k as is. But keep in mind, it's using and wasting energy sitting at 4.8ghz all of the time. If you don't have an issue with that, and are happy to pay the bills, then it's fine to leave it like that.
If on the other hand, you want to reduce those costs, and/or are conscientious about the climate etc (and your pocket) then having it cycle down when CPU isn't required is also a good choice. Different horse for different courses.
Modern CPU's are really good at switching frequency, often you won't even notice. Once the system is required to output more performance, it switches in a split second, and runs as it should for a required task. On occasion, there may be a slight bit of lag in a particular app or game, where (if monitored) you could almost feel the switch in frequency. But it's rare, and doesn't happen all of the time.
But, as I've suggested, I like max performance all of the time. Try it with the power saving features. If you have any glitches try it without. See what feels better for you.