I think a lot has to do with the other schools being considered.
If it’s a UC with a Nov deadline or a Purdue / Maryland / UIUC where EA is in essence the only way even though it’s technically not, then you would lose those opportunities.
If it’s a true Nov deadline like a UC, then you have to go ahead and apply - or if it’s a school with an even later deadline, then you have more flexibility to wait, etc.
Housing sometimes fills early too - or the best housing - based on acceptance date , etc - so you have to look at the overall potential school list I think - to really know how to play this…
Merit could be another factor - some schools may have a January deadline - but an earlier merit deadline.
What are the backup schools and how, if at all, are RD or later apps are impacted by the date of application?
I think those type of things would need to be looked at school by school - so each person’s case might be different dependent upon what their other than ED school list looks like.