I've done this several times, starting March 2013 when Facebook was still a thing, and can't think of a single instance when it failed to do me any good.
For the most of 2019 I'd check WhatsApp during weekends only, check Instagram only when I had to, and only used Snapchat. I logged into Facebook not more than thrice last year to get something or the other done. (One instance had to do with checking if a Facebook share plugin was working correctly.)
I have all notifications off. Except for DMs on whatsapp and Snapchat, both of which I exclusively used to connect with those important to me and mute everything else. I still continue to respond to whatsapp messages only on weekends though. It's my way of using my phone to connect with others rather than allowing it to be a distraction.
However there was one platform that I used excessively - Twitter. I had much to gain from it. I follow developers, mostly having something to do with Microsoft technologies I love and use. Two months back though, I decided I was spending way too much time on it and uninstalled it.
I missed it for a few days, but decided to fill the void with some focused reading instead and went back to the books left unread. Served me well so far, and I don't think I'm gonna install Twitter back again.
I'm not leaving Twitter, I do check occasionally on my computer, I easily spend less than 30 minutes a week. Most weeks I don't check twitter at all. I'm not leaving any of the social media platforms for that matter. But anyone that knows me knows how unreliable it can be to try to communicate with me via Social Media. Phone calls / Emails FTW.