I moved ALL my computers to Win10 IoT LTSC nearly two years ago, to avoid being forced to move to 11.
So I have an extensive experience with it, on a range of CPU architectures going back more than a decade (from Intel 3xxx to 12xxx, plus the entire AM4 roster), all three GPU makers, as well as a wide variety of peripherals (including a Soundblaster X-Fi Platinum still running on a PCI slot, which is notoriously finicky, despite being one of the best soundcards ever made!)
The bottom line? It’s just as good as any “regular” Windows 10 edition. I’ve been getting regular security updates (although I’m the one who decides when to download and install them), I’m not pestered to install OneDrive, and I get no protestations about compatibility with first-generation Zen chips. In fact, I’m pretty sure I can install the OS on a venerable Sandy Bridge machine that still runs Windows 7 (but I’m not going to do it, because that’s a dedicated vintage gaming rig).
There are zero downsides to this, and I have never come across any software package or game that wouldn’t run on this operating system. If it’s Win10 compatible, it is guaranteed to run on the IoT version. No ifs or buts: Premiere? Check. Topaz? Check. Office? Absolutely. SoundForge? Yup. I even installed a Windows 98-era program that had some audio morphing tools that I couldn’t find in newer software packages.
Think of it as a strreamlined version of 10, without useless bells and whistles. I’d even wager that it’s faster than Home and Pro versions, precisely because it’s not bloated, and designed from the ground up for low-powered machines. So it absolutely flies on 128GB RAM and something like the 5900XT, but also works nicely on a venerable Ivy Bridge i3 laptop with 4GB RAM.
I hope this helps.
PS: Forgot to add: No obligation to create a Microsoft account either. Yes, you can bypass that with Rufus, but still… it’s quite satisfying to revive the classic experience of installing a proper OS.