I have it in my (difficult) soil where it limps along but adds just enough interest to be worth keeping, year on year. It isn't a pest there.
A really good and non-invasive variegated grass is Calamagrostis x acutiflora 'Overdam', which comes up pinkish, and flowers early. But it needs more sun and drier soil. Another one to experiment with, which becomes quite a giant, is Miscanthus 'Cabaret'.
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https://www.jacksonsnurseries.co.uk/phalaris-arundinacea-var-picta.html
A really good and non-invasive variegated grass is Calamagrostis x acutiflora 'Overdam', which comes up pinkish, and flowers early. But it needs more sun and drier soil. Another one to experiment with, which becomes quite a giant, is Miscanthus 'Cabaret'.