Only if you're buying one for that reason, if you're buying just for photography then it doesn't matter whatsoever. Most people who buy them with video also in mind just use them as 1080p cameras and they're just fine for that. I still think 4K is way over-rated, I've watched some vlogs where half-way through the presenter would state they were shooting in 1080p and I'd not have noticed otherwise because I have YT set to that res anyway. I can watch 4K or 2K at least, but it can take ages to load and unless it's something with good eye-candy then I see no point. Wildlife video would benefit and maybe sports, but if all you're shooting is a vlog style video then even 720p is good enough.
I'm on my third 4K camera now and I've made use of it about 5 times. Video just isn't my thing, so I'd see no handicap with the M50 bar no IBIS. I did consider one in the past but just experimented with adapters for M43 cameras instead