Will there be impact on SELECT query if we combine multiple values and make single partition or if we create partition for all value?
Well I certainly hope so, don't you? After all improving performance is one of the main reasons partitioning was introduced.
So 'if we create partition for all value' there is ONE partition. So how is that any different from an unpartitioned table? It isn't.
PARTITION status_actives VALUES ('ID','IP','UL','RO','HD','FD','HL','HS','AC'),
PARTITION status_co_hi VALUES ('CO'),
So will it make a difference if you put ID/IP/UL/RO/HD/FD/HL/HS/AC into partitions of their own?
Who knows - it depends on how many rows have each of those values. If only one row has each value it won't make any difference at all.
It may be more complicated than this. You are looking only at the table partitioning. What about the index partitioning strategy? For example, performance of local non-prefixed indexes may degrade as you add more partitions. Global indexes should not.