Get the lighted extension cord.
Yes, get the lighted end — the power drain is negligible and the heat isn’t a problem.
The little LED or neon light draws something like 0.01 watts. Your wall wart phone charger probably wastes more power just sitting there. The heat is so low you won’t feel it. I’ve tested a few with my fingers after hours of use — cold to the touch.
The real benefit is safety: you can tell at a glance if the cord is live. That’s useful in a garage, basement, or holiday lights. No more plugging in mystery cords.
The only real fire risk from an extension cord is overloading or damage. The built-in light doesn’t change that calculus.
Don’t overthink this — the light is a feature, not a flaw.