Aero would be 16ms of additive latency on a 60hz monitor, 8ms on a 120hz, and 7ms on a 144hz.
When viewing your screen at vsync it's always 1 frame behind. In example if you're playing on 60hz you're 16ms behind always (don't use the UO to compensate this).
So with aero enabled you're 2 frames behind, with a 60hz refresh rate this could be 32ms at minimum just from aero/graphics delay assuming your drivers are pushing single pre-rendered frames. Aero on a 144hz monitor would be about 15ms at minimum.
People obviously don't play with vsync so the numbers are more close to 4ms to 2ms frame latency, 60hz aero would have 18ms delay at minimum, and 144hz would have 9ms at minimum.
Windows handles audio buffers in 10ms intervals so in theory playing on a 144hz monitor with aero on wouldn't be detrimental to the gameplay as long as you're pushing 500fps to 1000fps (anything more than that is really a waste).
Fun bonus fact: Playing on a laptop screen even without aero on would be upwards of 25ms+ display latency so try to get a cheap monitor with a low response time to plug into.