I will try it and revert back if disaster strikes!
Edit: I enabled tag icons on horizon, here on meta. So far seems to be working great, just without tags showing up on topic lists/topic cards. It’s still very helpful to be able to see them when mentioning tags in posts and at the top of topics, under the title.
I will browse meta using horizon today to be sure, but to all appearances it will be safe to keep it enabled here and for any site using horizon to enable it.