The actual impact varies a lot with different games. You can swap to the high performance power plan in Windows to improve your gaming experience a little bit, or a lot if you're on a gaming laptop. How to turn on high performance mode in Windows Flip the switch to off and you won't have an overlay on your games anymore and you might see an increase of a few FPS depending on the game. Head into your settings by right-clicking the start button icon and selecting Settings.
'Record what happened' will do a lot more to your games than Game Bar will, but if you want it off.
Like Windows Game Mode, Xbox Game Bar doesn't really affect your performance that much, at least not more than other overlays, like Nvidia's Shadowplay. (Image credit: Microsoft) How to turn off Xbox Game Bar