Nanite Position Precision: Consequences?

What are the consequences for increasing the “Position Precision” setting for a static mesh? Specifically, is there any performance cost? I couldn’t find much about that in the manual:

From the stats, it looks like it increases GPU memory usage, but that’s all I can really tell.

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I’ve been told that anything over 10bits is a rare case and it should only be used where needed. The auto default works on the scale in the scene. It can impact performance so it should be used as needed. It mainly impacts the disk footprint as it dials up the mesh complexity. The newer 5.2/5.3 docs indicate this. Hope that helps.