On previous versions of dolphin, setting this parameter to False would allow the lens flare effect to work properly on MKW but now, turning it on or off doesn't make it work. I also noticed that the MKW wiki page no longer mentions the issue with the lens flare effect but it's definitely not resolved.
Windows 10 Pro x64 | i7-9700K @ 4.6-5.0GHz | MSI Z370 Gaming Plus | MSI RX 5700 8GB Factory-OC | 16 GB DDR4-3000