I did some tests of that. Constantly turning on and off collisions for sprites out of screen gave me a little bit of stuttering on mobile. On desktop I didn't notice anything. Could be that my scrolling was not using dt. But in general frame rate went up a bit and cpu went down. For Visibility I'm not sure. Easy to test though. Is not on screen. Visibility off, - Is on screen. Visibility on.
While picking from many objects i found out that some ways to pick are better than others. A bit more info in this thread.