Any security risks posed by an unactivated Windows?

[pingu-the-penguin]

From what I can tell the only downside is the watermark and the lack of personalisation options. I was wondering if you would know of any hidden risks that could be associated with this or any missing functionality.

[HotCakeX]

Hi,
Windows itself does say that it's more secure when activated, i think i remember seeing notices claiming that, but i myself haven't done any tests to verify it.

The Harden System Security app reaches to many APIs and native features in the OS so if you use the Verify feature in the app and if it reports everything is good, even on inactivate Windows, then from a security perspective you should be okay.