You need to keep it around if you are using AADConnect and/or ADFS and want to be supported :)
That's really it. If you do not use sync from on-prem to Azure, then its not needed at all.
If you decide to remove it and you are using AADConnect, then you would need to make any on-prem changes that sync to Azure using ADUC or ADSIEDIT or the scripting/tool of your choice. You won't be technically supported, but that may not matter for you.
Note that Microsoft is still working on fixing this requirement.
I'm sure you have already seen:
https://video2.skills-academy.com/en-us/exchange/decommission-on-premises-exchange
Otherwise, thats it for the most part.