Question is do we have to enable Lock Pages in Memory option in windows edgroup.msc part of best practice which will reflect from SQl Server service in Configuration manager for boost performance.
Lock Pages in Memory (LPIM) is not about performance boosting. It is about stability. Let's say that something else on the server starts to grab memory. It could be a leaky driver, it could be you that start copying a large file or it could be anything else.
Because the operating system sees that there is a shortage or memory, it may send processes to the swap file. And of course, since SQL Server takes up lot of memory, Windows will think that's a great candidate. However, the reason that SQL Server has a lot of memory is that it has read data from disk to RAM as a cache. But having the cache on the page file is quite pointless, so SQL Server could just as well trim the cache itself. And eventually it will, since it knows that there is memory pressure.
The LPIM permission prevents SQL Server from being sent to the cache file. It will still trim its memory, but the disaster of having data in the page file for slow access cannot occur.
LPIM is generally a good thing for SQL Server, but you can imagine what would happen if all processes on the machine has LPIM. Poor Windows would not be able to send anything to the page file and have no choice to explode. To the menace for everyone one.
If you have a server which is dedicated to a single instance of SQL Server, LPIM is a good idea. If the server has several instances of SQL Server, or also a web server, Reporting Services or whatnots, you should think twice before you grant LPIM to the service account for SQL Server.