A 404 redirects are both good and bad. The good news about 404s is you will not be negatively scored in Google search results for a low to normal volume of 404 redirect site errors.

The bad news about 404s is if you have an irregular volume of 404 redirects in a short period of time on your site, this could cause a negative effect on your site’s overall search rating.

Refer: https://www.bigleap.com/blog/properly-404-redirect/