Even if it was 100% offline. For how long? Microsoft can change that with a patch at any time. Suddenly all your personal files are being fed into GPT with no consent.
Not even completely removing Windows from your life will help. Anyone you interact with through email or instant message or social media will have screen-scraped copies of the entire interaction. And that would be bad enough if only a single person gets hacked and has their Recall data hijacked. There will be huge databases available that people will be able to freely cross reference. They'll still be able to build a quite extensive profile on you just through all of your interactions that get scraped from others.
Yes I'm aware. I've been down that path, and sadly there's no escape no matter what tor this or VPN that you use with a privacy centric app. We can however minimize what is being data mined.
Unfortunately, that ship has already sailed. AI will be a disruptor. You not using it won't change anything. Only laws and legislative action will fix things.