Yes, Microsoft announced the decision to migrate to Chromium in December 2018.
Personally, I choose not to wade through the personalization maze and opt-outs and opt-ins related to a Microsoft account/browser, especially when alternatives don’t have any of that.
The browser’s Prefs allow you to reduce diagnostic data sent to Microsoft (the choices are Full or Basic), but not eliminate it. Also, there is a resettable identifier unique to your browser, with the option to (manually) periodically change the identifier. Diagnostic data is saved for “up to 18 months.”
Microsoft will target you if you ‘allow personalization’ (signed into a Microsoft account and have permission on for personalization in settings): "If you’ve allowed personalization, we will collect and use your Microsoft Edge browsing history to personalize experiences and advertising on Bing.com, Microsoft News, and other Microsoft services. This will provide more relevant and useful search results, ads, and news content."
But Microsoft wants you to be signed in: "To sign you in seamlessly, when you first launch Microsoft Edge, we’ll attempt to detect your identity from the operating system. If we detect your identity from the operating system but you don’t want to remain signed in to Microsoft Edge, go to your Microsoft Edge profile settings and either sign out or remove your profile."
And
"If you’ve chosen to improve searches and other Microsoft products and services, we send info about websites you visit to Microsoft… This diagnostic data includes the URL of the page you visit, website metrics, title of the page, how you accessed the page, info about the page content, and other relevant info about the page navigation. Some diagnostic data is attached with an identifier unique to your device. Otherwise the diagnostic data is associated with a resettable identifier unique to your browser."