Google Domains is being sold off to Squarespace. Transition to take place "Q3 of 2023".
Transition is automatic, but Squarespace honoring renewal fees for only 1 year.
The transition will be "automatic", but if you're using Google Domains as of now, this is your heads up to start moving things unless you like Squarespace.
Any reason not to let it ride with squarespace?
Not really, especially if you were already using Google Domains. Just personal preference or if you'd prefer to consolidate with other registrars.