does using cast(col as VARCHAR(MAX)) even if the column didn't have large data affect performance in SQL server?

Question

I found that if a column data type is set as varchar(max) in a table will affect the performance by the following

1. large space will be occupied
2. indexing is not possible

But does it affect, when I use a query like Cast(column name as varchar(max)) in a column which does not have large values?

I don't seem to find any delay while using a query like above.

Note: I don't have permission to see the column size.