Are custom kernels such as Liquorix and Xanmod worth it?

Whatever kernel works best for your setup. I have already answered this question in detail:

You have a I5 8265U 8th gen, you can probably just stay on Kernel 5.10 LTS from now on (until it’s EOL), or if you see on Phoronix (or similar websites) that some newer Kernels have better support for your specific CPU/iGPU.

Honestly, I wouldn’t worry about newer kernels when it comes to intel iGPUs, unless it’s absolutely a brand new just released CPU/iGPU. Ryzen iGPUs are a totally different story, I personally try to stay on the latest kernels (currently 5.11) for my Ryzen iGPU laptops, and AMD dGPU desktops, unless there is a regression.