You should register your bike as soon as possible if you are living in a risky state. In those states where criminal activity is maximum, you can not take the risk of not registering your bike.
Police compounds are full of unregistered bikes because of the high crime rate. You can not overshadow the importance of registration as this process can increase the chances of recovery many times. But if anything wrong happens to you and your bike is registered, it can be recovered within few days.
You should take this responsibility to make your state crime-free. By not registering your bike, you are just encouraging criminals to seize this critical acquisition from you. Because of lockdown, these criminal activities increased many times, and you can tackle these by following the law.