It doesn’t interfere with anything per se.
If you don’t use Adblock - you will see either “targeted” ads (things more relevant to you) or “untargeted” ads, depending on which button you click on the privacy control.
If you do use Adblock - you won’t see any ads at all so the privacy control doesn’t do anything.
If you want to use Adblock that’s fine, I can’t stop you. But I try to make sure adverts are not annoying. I always feel you should turn it off for sites you like and visit frequently.