Well, it would probably shock everyone. Sasuke might feel betrayed as Naruto is his closest friend. For Boruto, it could be a huge turning point. He might start to question a lot of things and feel the need to step up more. His relationship with his friends and family could also change as he tries to deal with the fact that his father is 'dead'.
One consequence could be that his friends are devastated at first. They might go through a period of grief and self - blame for not being able to protect him.
His friends might feel betrayed. They would be mourning his death while he was actually alive. This could lead to a lot of anger and mistrust when they find out the truth.
One possible plot development could be that Naruto fakes his death to outwit a powerful enemy. He might go into hiding, secretly gathering information and allies to strike back at the right moment.
Another possibility is that the main antagonist is a group. It could be a secret organization that Naruto discovers is plotting something big. Since they are so powerful and well - connected, Naruto fakes his death to infiltrate them and expose their plans from the inside.
Well, he might use some substitution jutsu. He could replace himself with a log or something similar at the crucial moment, making it seem like he's been killed.
One possible reason could be to protect his family. After the war, Naruto might have made many enemies. By faking his death, he could draw the attention of these enemies away from his family, especially his wife and children. His enemies would think he's no longer a threat and stop targeting his loved ones.
Well, Naruto could have made a deal with some powerful being or used some sort of forbidden technique. Maybe he found a way to transfer his life signs to another object or being, making it seem like he was dead. He's always been resourceful and full of surprises, so faking his own death in a really elaborate and unexpected way is not out of the question.
Perhaps he has discovered a great threat that is specifically targeting him. To keep the village and his family from being collateral damage, he fakes his death. This way, he can secretly gather information, train more, and come back stronger to face the threat when the time is right.
The Death Eaters might think they've won at first. There could be chaos and fear among the good wizards. But it could also lead to a secret resistance growing stronger.