Home ed children don't miss out any of the things listed by posts above in my experience. Not one.
They are "socialised", they have close friends, go on trips, are completely "visible" to other professionals through classes they take and their registration with GP, dentist, optician, etc.
EHE (elective home education) is bespoke private education. Children can have more opportunities than their school-based counterparts, personalised support, tutors who are individually picked by parents for their specialism and progress which outstrips their age because of resulting quality provision. Locally, our EHE community also does more sport than any of the local schools we checked.
Local authorities already have duty to monitor, advise and enforce standards with home educated children. Ours most certainly does.
I can't see the rationale to stop such a rich, personalised and highly successful route through education for those families who commit to it.
As for Sara Sharif, her death has nothing whatsoever to do with EHE.