Well if you notice a degraded picture quality you should definitely try disabling it.

Just try yourself and compare. Actually, maybe they've improved the feature, I haven't used it for quite a while now, but I definitely remember Live Photos were noticeably worse a year or two ago, if you compare with a regular photo on a bigger screen. That was the reason why I've stopped using it.

Make sure you have turned off Live Photos (the icon is in the top right corner of the screen), because even though they can be fun sometimes, the image quality really suffers.