I did this and was greeted with a prompt explaining said functionality and asking if I wanted to "Turn it on". There was another button beneath it with the option to "Skip". I clicked Skip to see what happens and all location info for every day I checked was empty ("No visits for this day").

So looks like this functionality is disabled by default. I don't recall ever using google maps on my phone before, let alone tweaking specific settings.

This can be disabled, although who knows if it's just hidden for you.