It’s prettier than a TTY and you can pick whether you want a Wayland or an X11 session without having to know the correct startup commands. You can pick between different desktops too. And a Display Manager can offer on-screen keyboard and touchscreen support while a TTY can’t (at least GDM does, I’m not sure about SDDM off the top of my head).

Aside from that whatever command you are using in the TTY to launch Plasma might or might not be the same commands SDDM uses, which might or might not lead to issues in setting up the environment. If your environment is fine and you don’t care about having to use a physical keyboard then of course you can remove it. It’s not exactly load bearing.