A degree helps you with structure, connections, and also could give you debt. It really depends on the individual, but on another line of thought, a degree’s importance also depends on where you live.
For example, I've met a couple people from Latin America that landed pretty good job offers in European countries, and their visa petitions were refused because they didn't have a degree. Their employees never asked for it, the only factor in the hiring process was portfolio/reel. But the last word in issuing a work permit comes from immigration, which has a system based on points that vary from country to country. I've heard that a degree is considered equal to 5 or even 10 years of experience in those scenarios, and also makes you an immigrant with a safer profile, which is completely understandable.
If you have 5 years of experience in your field being self-taught, any person fresh out of school with a 3 month internship could be ahead of you in a visa petition process in immigration eyes. That’s something to keep in mind depending on your personal circumstances.