The disadvantage of turning off "For improved security, only allow Windows Hello sign-in for Microsoft accounts on this device" is simply that IF someone were to have physical access to the device (i.e able to touch the keyboard) they would not have the, harder to hack, Windows Hello to cope with before getting access to the Files etc.
Removing the need to enter the password on boot, of course, removes any barrier for anyone that has physical access to the device.
The password still protects from outside interference or remote access.
To remove the need to enter the password when starting Windows,
click start
type netplwiz and press enter
untick "users must enter a username and password..."
click apply
(if it is already unticked, tick the box and click apply then untick it again and click apply)
you will be asked for a username and password (used to automatically log on).
if you are using a Microsoft account enter the FULL email address.
enter and verify your password and click ok
next time you boot the computer it will automatically log on.
NOTE - there is no need to switch to a local account, it WORKS perfectly well with a Microsoft account, as long as you enter the full email address in the username field.
blank passwords are NOT a good idea.
do not forget the password.
To prevent it asking for a password when waking from sleep, go to settings -> accounts -> sign-in options
under Additional settings,
next to If you've been away, when should Windows require you to sign in again" select Never.
There are still some occasions when the password will need to be entered, such as accessing the device across a network or viewing saved passwords etc. - do not forget the password.
If you have problems or questions with the above please do not hesitate to let me know