Diagnosing PPID (Cushing’s) is complex and should not be based just on one ACTH level. Therefore, many horses are misdiagnosed but still placed on medication. However, I am unaware of any reports of horses without PPID having an adverse effect from being treated.
Some of the effects of Prascend and pergolide are blotchy hair coats or decreased appetite. These are common and resolved when the medication is reduced or removed. The package insert for this drug has some good information on 1) the study used to gain approval, 2) adverse effects in PPID horses, and 3) adverse effects on horses without PPID. You can read it here: https://docs.boehringer-ingelheim.com/Prascend_Prescribing_Information_2023.pdf
You may need to copy and paste the link above directly into your browser or go to the official Prascend site and find the exact link. Interestingly, in the study of 113 horses, only 76% saw improvement. Most of the improvement was in the shedding of the hair coat. The other observable improvements were 30 to 40%, including fat distribution and muscle wasting. I have received testimonies about improvements in these and ACTH levels with only diet changes (no-grain, protein) in emails and on FB postings. I believe PPID is one of the many associated diseases of excess sugar in the diet and insufficient high-quality protein. However, no one has done a valid trial on this (and no one ever will!).