That's disabling swap, not overcommit. Windows doesn't overcommit. It's one of the reason why it handles low memory situations so much more gracefully than Linux.

This is almost always a bad idea.

If no memory is available where a page file would make a difference, this leads to application crashes instead. A crash is (usually) worse than paging.

Certain applications, Photoshop being the historical example, will outright fail to run with no page file present.