cedar will impart an aroma that can be enjoyable.
there could also be a slight flavor note you will pick up,but this depends on how long the cigar has been in the cedar sleeve, and the intensity of the aroma.
You have the final choice here, cello on or off, cedar sleeve on or off.
I recommend you experiment,your palate should dictate your choices,and you will be able to learn for yourself which way is best.
Back in the 80s I removed the cello from every cigar I had. I stored them in cedar cabs,and they seemed to thrive and come ready quickly,and I even mixed different cigars together in the same cab.
I never had a negative result,and some of the "marriages " were a huge success.
Keeping the proper humidity has proven to be the most important part of storing and maturing cigars,the rest is personal preference.