AFAICT, having even a dumb phone allows for a remarkably accurate level of tracking and information gathering, because a great part of that logic is actually embedded in the cell networks themselves. The higher the frequencies used, the more accurate your positioning is - another reason the 5G networks are so concerning is likely that they’re <1m accurate, and because they’re so high frequency, there need to be a lot more antennae, including underground and in buildings, so you’ll be much more likely to be tracked easily nearly anywhere you go that has coverage. 4G is bad enough, and I’ve heard accuracy quotes of ~1m in ideal conditions there as well, although you’re not permitted to use that for yourself, or people would freak out knowing that that’s possible, so what the phone has access to is either deliberately fuzzed or qualcomm is not permitting the higher accuracy logic to be included on the device silicon at all - not that it needs to be there in the first place.
As for “should you”… that’s a mixed bag. It depends on why. I don’t run a lot of non-vendor software to begin with, on my phone, and it permits me to enable/disable location services only for software I permit (and often then only when using the software actively), so I’m comfortable with that level of tradeoff. If you live in a city, you’ll be tracked by a thousand types of sensors already, so you’re not particularly giving up any additional privacy by toting a personal tracking device with you. If you don’t, there might be better reasons to avoid one, and ham radio etc. can be a great way to remain at arm’s length from family or other folk if you have a genuine need to be reachable at a distance from time to time, 'long as you don’t mind others knowing your business.
However, as anybody will tell you, it’s a situation of risk assessment. I’ll be blunt - anybody with a fixed address is trivially findable, period. They don’t need to track you. They know where you (and your wife/husband/daughter/son/pet gerbil) sleep, which stores you likely shop at, and the limits you’ll be able to practically go to to find needful things in a go-to-ground situation. If they care about you at all, they know already all of your points of contact, your friends and their friends, and probably have a largely accurate psychological profile of you built up from things as simple as your credit card/bank card purchase history, your online ordering and mail delivery contents (why the US is giving up that aspect of internal spy capacity I have no idea), hell even if you only ever spend cash, you think the stores you go into don’t have networked security cameras (or that the cheap shitty non-networked ones they have aren’t compromised in some way)? Face it, you’re being tracked, in aggregate, in the deep infosphere all the time, and afaict there’s no way around it unless you’ve been diligently outfoxing them since before you were born, or they legitimately think you’re dead and you’ve not appeared on anybody’s facial recognition at all since.