This is a subject for debate and some situations may benefit from one or another. Host power policies are something covered very well in VMware vSphere 6.5 Host Resources Deep Dive book. The general recommendation is to use Balanced for most uses, and High Performance for vSAN, NFV, or certain other workloads. With anything else, your mileage may vary, so there's no replacement for testing and observation in your own unique setup.
