This might be controversial, but I think disavowing backlinks is overrated and a waste of time nine times out of ten.
If you accept the idea that a backlink can have a significantly negative impact on your website because it's spam or from a bad source, you also must accept that “negative SEO” is a real and viable SEO strategy in 2024 and beyond.
By negative SEO, I mean buying spam and toxic backlinks and pointing them at your competitors' websites.
This is unethical and against Google's guidelines, but I believe Google can only negate it by applying only positive SEO signals from backlinks and no negatives.
So, if you have a spam backlink, it's obviously not going to affect your site positively, but it also won't affect it negatively; therefore, it's not worth disavowing. Otherwise, Google would be incentivizing not just “black hat” techniques, but truly unethical SEO strategies, which are a thing of the past. It would be too risky for Google to implement any kind of negative SEO link algorithm from a legal perspective.