If I obfuscate the IP addresses, will it affect my geo reports? Also, how can I obfuscate the ip addresses in Adobe Analytics? I also have Adobe Launch Tag manager.
Yes. Your Geo Reports will be impacted, I'm not sure how much.... possibly large city centres won't have a lot of impact, but the rural areas may have more challenges.
IP Obfuscation is a setting in your Report Suite's General Settings.