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PCM in Accord 98

98 Honda Accord. 145000 miles on it.

My car has check engine light on for last couple of days . First diagnostics said some oxygen sensor had to be replaced…After replacing the oxygen sensor, it turns out that check engine light still came back . So then the mechanic now says PCM issues and needs to be replaced and that is expensive.

Also, we notice some smell in the car for last couple of days and mechanic is saying it is PCM burning smell.

So the question is, what if we do not replace this and keep driving ? Will the problem spill over to other things?