That mouse proximity feature is kind of a dumb trick. It makes it harder to find all your controls, like playing a search-and-click adventure… I don’t like it at all. And yes, I found my viewport slowed down and lagged while moving the mouse around the hidden controllers on complex rigs. Animation playback didn’t seem affected.
The rig doesn’t slow down with fully visible controllers. And playback cache might actually prioritize them? I’m not sure.
And as you’ve seen, it lets you filter/show only animation controls.
And it lets you define a custom pick-walk hierarchy, so animators can pick through fingers, hand, arm or any custom structure, using up, down, left, and right keys, without selecting parts of the background rig. To me, that is cool. But maybe not worth all the bugs. Pick-walking the controls is annoying while rigging. You can temporarily turn it off with an environment setting.