No, you do not need to turn it off. If you’re that tight on resources upgrade your droplet instead.

If you disable it, you will need to set your transport method to TCP. UDP is the default, which has no error control. You can remove the line for local logging. That conf file tells rsyslog what the source and destination is for logging, so if you remove a destination, it just won’t go there anymore.

You should solve your problem by rotating logs instead. Turning off the only thing that gives you visibility into what your server is doing is not a good idea. Also, syslog doesn’t send or receive data by default.