Using custom derivation paths might be more effective but also more risky if you forget which one you used.

Or better: create a decoy wallet with no 25th word but your real funds are only accessible with the correct 25th (2FA). See Two-factor seed phrases.

Is there really a huge benefit of doing this?

If somehow your key got compromised, the attacker likely wouldn’t see the funds, buying you extra time? Is that the thesis?