I know this was discussed for hundred times already, but seriously – building decay in solo/2-3 coop, so when you play only with friends makes little sense.
It takes time for wood to rot, far more than it would justify adding decay in Valheim in the first place and make it an important mechanic. And most of the time, when players build unsheltered wooden pieces, it's for things that would use protected/prepared wood in real life anyway, like fencing, railings, etc.
But the thing is: it doesn't even destroy player-built things. It just brings them down to 50% of health. It doesn't affect the stability. Beside the undesireable, purely cosmetic look, why would I care about repairing it? I only do it because I'm quite pedantic about it. Most of the npcs aren't able to do much damage to it anyway. And those that can, would destroy fully repaired parts with ease.
The only legit use I see for it would be on large population servers, where you have to deal with quite significant player rotation. And Decay there would have to actually destroy unprotected things.
A solo player, or player like me, who only plays with his significant other, should be able to disable this mechanic. It's not making my game more difficult, just more frustrating and tiring, when you have to repair all of your decorative things.
Source: https://www.reddit.com/r/valheim/comments/tt0q9j/yes_this_thing_again_building_decay/