It will automatically update mods you subscribe, without your consent, and 'unsubscribing' a mod will not automatically remove it from your game installation (thus leaving those 'orphan' files in your game data folder).
By 'mod manager', I mean either the 'Nexus Mod Manager', the 'Mod Organizer', or 'WryeBash/BAINS.'The 'Steam Workshop Subscriptions' is not a 'mod manager.' It is an insult to mod users because it treats mod users as morons. If you have more than 5 mods in your load order, then you should use a mod manager to handle mod installation. This is going to seem elementary to many Skyrim mod users, but I constantly see 'halp me!' requests in the Skyrim technical support and troubleshooting forums from users who do not know these things. Seeing that an update is coming soon, and I am waiting on some resource files, I figured I'd take this time to provide some basic advice on how to properly install and update mods for Skyrim.