There is (at least) one bug introduced in the recent Go 1.17 that could create some issues for you if you’re a Hugo Modules user, so I recommend wait until a patch release comes out.
OK, it wasn’t a bug in Go – they have changed how transitive dependencies gets downloaded (which I guess was in the release notes at some level), which is fixable …
Just to be clear: It should work fine to build existing Hugo Modules sites with Go 1.17 (where all dependencies are already recorded ingo.mod), but you may get too new transitive deps if you start from scratch (e.g. hugo mod init).