WordPress redirect all 404 pages to the Homepage

Note: I have read somewhere that redirecting all 404 to Homepage is
not a good approach for SEO purposes

Simplest way to redirect all 404 to homepage in wordpress.

if( !function_exists('redirect_404_to_homepage') ){

    add_action( 'template_redirect', 'redirect_404_to_homepage' );

    function redirect_404_to_homepage(){
       if(is_404()):
            wp_safe_redirect( home_url("https://wordpress.stackexchange.com/") );
            exit;
        endif;
    }
}