depends which uni + atar you're going for, because most unis will give u a scholarship if u reach a certain atar eg unsw will give u 5k for achieving the highest atar at your school or a lot more for 99.95. in this case they really couldnt care less about what extracurriculars you are doing, same when it comes for applying to courses since atar is all thats looked at, unlike in america or other countries where unis also pick people based on their extracurriculars alongside results.
that being said there are some scholarships where they do care about extracurriculars like the tuckwell scholarship, but these are honestly not very common compared to scholarships which reward high atars or being school captain. tbh considering the time it probably takes its really not worth it unless if you are going for something like the tuckwell, where there are interviews, and they are really placing emphasis on extracurriculars as well as atar