Since March 6, 2024, Google requires websites that use Google advertising products (Google Ads) to collect consent from their end users based in the EEA (European Economic Area) using Google Consent Mode v2.
In other words, after March 6, 2024, if you have not deployed Google Consent Mode v2 on your website, you will not be able to use all the features (retargeting ads, personalized ads, audience creation, enhanced conversions, etc.) of the Google advertising products you use. Not to mention that your reports on these products will be less “accurate” and ad optimization algorithms less effective due to the loss of modeled data.