The hs-scripts embed code, identified by the URL js.hs-scripts.com, is the entry point for HubSpot embed codes and ensures that new HubSpot features like messages or pop-up forms are automatically added to your site.
The js.hs-scripts.com script doesn't do any analytics tracking by itself. Instead, it loads the other embed codes relevant to your HubSpot subscription on your site.
Site features such as messages and pop-up forms are delivered in this way, in addition to the existing analytics tracking. Since each of these features is delivered by a different script, ad and privacy blockers can block just trackers (like track.hubspot.com and js.hs-analytics.net) without affecting HubSpot features.