I can not think of a single reason to have it on until as you stated you are trying to run an AppleScript that is executing Apple Events on another system. That seems pretty unlikely to be a large issue.
systemsetup does only allow an on/off option. I am just guessing, but I would bet you could control access by adding and removing the users you need from the group com.apple.access_remote_ae
Yeah, given the description in the Sharing Preference Pane for it - "Remote Apple Events allows applications on other macOS computers to send Apple events to this computer.", I also can't think of any good reason to have that on these days. It's more likely you would run Applescript commands in a script from something like a Jamf policy, or even when SSH'd into a machine, than you would be running Applescript calls from one machine to another. I honestly can't recall the last time I even used Apple events like that. I has to be more than 10 years ago now.
I'd probably just set it/leave it off.
Thanks @robmorton and @mm2270 I appreciate the feedback.