Fewer visits in Google Analytics and fewer conversions in your ad accounts after switching it on — visitors who reject aren't counted. That's expected.
No link to change the choice later. Visitors must clear their browser data.
Your own Tracking Scripts count as Marketing. They load only after a visitor allows marketing cookies.
Personalization is saved but not used.
Private browsing — the choice may last only until the window is closed.
One browser at a time — a visitor using a phone and a laptop chooses on each.
Missing Privacy Policy page — the banner link leads to a "page not found" unless you create /pages/privacy-policy.