Iceland campervan rental: Do we really need a 4x4 for the Ring Road in October?

I’m planning a trip for next October for my wife and I. We we;re thnking of driving so we have some independence and can makes stops where we feel like it along the way.

If we’re sticking only to the ring road, do we really need a 4x4 camper? The price is a log more and I see mixed opinions about whether it is necessary.

Any input from those with experience would be greatly appreciated!