From what I can remember, UTF-8 consumes more CPU as it's more complex to process, has space savings for mostly ascii & European codepages, but can significantly bloat storage sizes for character sets that consistently require 3 or 4 bytes per character.
I can't find the more detailed article, but this summarizes it: https://techcommunity.microsoft.com/t5/sql-server-blog/intro...
From what I can remember, UTF-8 consumes more CPU as it's more complex to process, has space savings for mostly ascii & European codepages, but can significantly bloat storage sizes for character sets that consistently require 3 or 4 bytes per character.