EC2 meta data protection – best approach

Gurus, You might be knowing that the new EC IMDSv2 with loads of new features what is the best approach to protect the EC2 meta data? lets take 2 steps 

1. Disable the Metadata service 

2. Use host firewall like iptables to restrict access

Now, my question is what if i disable meta data service and what will be effect? is this service is required for up keeping of EC2 throughout?