Depends on your tooling. I can't update yet due to ESLint package dependency mismatches. I'll have to wait for all the ESLint plugins to update. There may also be new failures in your code from the v6 to v7 update. I had only a very minor one though in my initial test.
I've been really, really happy with oxlint. It has all the rules I usually need and the configs etc. tend to just work, whereas I don't know how much time I spent getting ESLint to work in slightly more complex repo setups.
The reason to not use it locally is false negatives or false positives compared to your CI version. Your local tsc will not match the results of your CI tsc.