The long and the short of UAC and DEP.

Prior to LoadRunner 2023 this was easy.

" LoadRunner will not Install or Operate as expected with UAC and/or DEP enabled. "
There is/was no other way to make the LR software work.

Since version LoadRunner 2023, the answer became 'It depends'.

Beginning with Loadrunner 2023, we were informed in What's New in LoadRunner Enterprise 2023 (microfocus.com) that you could perform a Clean install with UAC and DEP enabled/Opt-In.

But, paying attention to the note, if you Installed an earlier version that required UAC/DEP Disabled, then you need to continue to Disable it.

e.g Your current environment is LRE 2022, which DOES have the requirement. If you're upgrading to LR 24.1, you will need to Disable UAC and DEP to comply with the legacy code in your environment.

You will need to keep disabling them until you move to a system that never had the requirement.
Moving to a system that never had that setting would require a jump-server and a lot of manual re-work. If this is your situation, I strongly recommend contacting your Orasi representative to engage with our team to convert your environment away from this need.
LoadRunner Enterprise Installation Guide (microfocus.com) gave us this.
Permission requirements: 
To install and configure a LoadRunner Enterprise server or
LoadRunner Enterprise host, you must have full local
administrative rights on the designated machine.
UAC and DEP do not need to be deactivated to install or run
LoadRunner Enterprise components

But  LoadRunner Professional Installation Guide (microfocus.com) gave us
Permission requirements :
The installation process for all LRP components requires a full
administrator account (root account for Linux systems) for all
operating systems.
You can install LRP components with UAC and DEP enabled, but
we recommend to keep them disabled during installation (or
enable DEP for essential Windows programs and services only).
After installation, all of the LRP applications and components can
run under a standard user account (an administrator account is
not required), with UAC and DEP enabled.

So we have mildly conflicting information on how to install LoadRunner Enterprise and Professional. The vendor recommends Disabling it before installing. The DEP setting has 3 options, Always On, Opt-In and Always Off.
The maximum setting for DEP, assuming the LoadRunner version is 2023 or higher,is Opti In (essential windows and programs Only), NEVER "AlwaysOn".

In addition to the version which may or may not be carrying along this dependency, there's this from LR 24.1 VuGen Known issues (microfocus.com) page, introducing a dependency:

Since this advice is included in the 24.1 documentation, I must conclude the vendor is keeping this current, and recognizes that DEP settings can inhibit normal/expected LR operation..

So with all this in mind, the answer to "Do I need to Disable UAC and DEP on my LoadRunner Environment?" is "It depends".