Greetings

.
According to
this an explanation is hard to find and I'm inclined to agree. Truthfully, I doubt it's needed but I did find a possible explanation from a member of Microsoft support in a thread
here:
QUOTE
Enables Windows-based programs to create, access, and modify Internet-based files. If this service is stopped, these functions will not be available. If this service is disabled, any services that explicitly depend on it will fail to start. This service may also be responsible for clicking on hyperlinks embedded within applications, such as in email clients to open up a new window.
It's up to you whether you leave it as is, but if it's set to manual then it will run if it's needed and won't if it's not so it shouldn't affect your performance.