You Can Fly as PIC
I have Type 2 diabetes and there is no restriction on my holding an Australian PPL or flying solo as PIC provided that I meet CASA medical requirements, particurlarly with respect to HBA1C levels (they get a bit nervous if it is >7.9 mmols). I hold both a MEIR and a ME NVFR rating.
The only problem is that the medicals are a bit more rigorous (medical every year, more tests required and therefore more expensive) and your medical certificate can only be renewed by CASA not your DAME, which can cause a delay.
Other than that, no problems.