Local snapshots are hidden copies of files that have changed or been deleted in between Time Machine snapshots. They are stored in free space that would otherwise be unused (and therefore wasted.) The space is managed automatically. When free space starts to run low, the snapshots are deleted. The Finder reports the space occupied by local snapshots as "Available," which it is. The Storage display shows them as "Backups."
If there are unwanted changes to files in between Time Machine snapshots—which may be far apart when you're moving around with a portable computer—you may be able to recover from a local snapshot. If you disable local snapshots, you lose that protection, and gain nothing in return. There is no benefit, only risk.
Empty storage space, beyond a certain minimum, is wasted. You paid for it to be there, but it's doing you no good at all. Local snapshots put it to use.
Very seldom, if ever, you might need to delete the local snapshot store in order to add a large amount of data to the volume all at once. If that need ever arises, all you have to do is turn Time Machine OFF in its preference pane, and then turn it back ON immediately.