Removing ETW kills off the event trace logging facility. But I seriously doubt this type of futzing will defeat more advanced anti-cheat's.
Circular loggers are normal for most event logging, it prevents a chatty log from getting swamped by allocating a fixed buffer size, and allowing more recent events to overwrite the oldest ones. Otherwise a full log buffer will negatively impact the system, because it has to wait until the pending log events are flushed to disk before allowing new events (or actions).
You breaking another kernel process' expected behavior would likely cause the anti-cheat to flag you as cheating...