Option Strict On does not generate any extra code, it merely tells the compiler to generate errors when your vb.net statements are relying on implicit type conversions. Like assigning an object to a string. What you've written in your snippet is exactly what the compiler does with Option Strict Off so no extra code is generated by your type conversion operators.
But of course, there's always a non-zero chance that you use the wrong conversion and break the existing code. You'll have to do what's always required when you make changes to code, you'll have to re-test it.