If you delete a Collector Group, you will
lose logs.
Palo Alto Networks recommends preserving the predefined
Log Collector and Collector Group on the Panorama management server,
regardless of whether Panorama also manages Dedicated Log Collectors.
If you switch an M-Series appliance from Panorama mode to Log Collector mode, the appliance will
lose its predefined Collector Group and Log Collector. You would then have to
Set Up the M-Series Appliance as a Log
Collector, add it as a managed collector to Panorama, and configure a
Collector Group to contain the managed collector.