Depends on if you want the existing data to be unrecoverable?
The entire medium is not written to when the disk is encrypted, that is the point of this setting. If you have 16GB of unencrypted data on a 16GB drive, and then you format the drive with encryption and add 8GB of data to it, there is still 8GB of potentially recoverable data remaining from before the format.
It’s also a question of hiding metadata, not just the recoverability of old data. If the disk is overwritten beforehand, then the attacker cannot determine how much encrypted data is on the disk.
this goes out the window when fstrim is used, which is a conundrum as it is also essential to minimize cell wear or slower writes in the case of smr disks