Considering that few players ever get past one year (In-Game Years) playing with their characters, that couldn't have any repercussions.
Indeed, most players aren't going to be playing the game for long enough in in-game terms for aging to have any noticable impact if it occurs at any realistic rate, and having unrealistically fast aging would be far more unrealistic than having no aging, seeing as if aging was done at a realistic rate, you probably wouldn't notice it, added to that, even if the game DID last long enough for aging during gameplay to have an impact, that doesn't mean I want it to, because I agree with what BoSStealthAgent said, I don't want to work hard to get the character I want only to have my creation ruined by the effects of aging, though I don't just mean that for cosmetic aspects, as realistically speaking, aging should also effect your character's abilities, and I don't want to have a powerful character I developed by investing hundreds of hours into the game to suddenly start getting weaker only because of the effects of age. Further, in-game aging would actually penalize players who want to make older characters, as the older your character, the less time you have before the effects of aging start to negatively impact your character's abilities, best to set your age as low as possible, so that your character can have a longer lifespan, which in this case may be meant literally if dying of old age is also incorporated, and I'd rather have age remain a cosmetic or role-playing choice, such as it is now.
In short, aging may seem like a realistic idea, but unless it's the Sims, I don't think it's really needed or even wanted in a game, and, well, if I was looking to play the Sims, I'd be posting on a website devoted to that series, not the Skyrim forums.