I think it depends upon the severity. My lad came back from his last 'jumping' home with it. He tends to walk it off and in trot and canter its not noticable at all. Plus he still pops a fence for fun. But he finds it harder to engage, especially on his dodgy leg. Some lateral movements are harder now.
I find he's worse if hes been stood in for a long time or if he's got cold and wet, so I try and keep him rugged when its wet.
Its a bit difficult to call, he needs to be out to keep the leg from stiffening up, but kept dry. Not always easy with our climate.
It certainly doesn't have to be the end of your horse's ridden career though. Mine is still very active at the grand age of 20.
Talk to your vet, I'm sure they will be able to give you a proper guide to day to day management.
Good luck
My mare couldn't hold her back feet up for the farrier, one side worse than the other, so get a sympathetic one that will shoe without hauling the feet up too high.
Didn't seem to affect her performance wise. She could still jump & do dressage.