can i drive car with the catalytic converter failing and causing to lose power

IF you destroy the engine , or just simply cause more damage , that will by far cost more than fixing it now!! I would opt for fixing it , before it gets worse! ALSO , keep in mind , there is probably something else at the root cause of the converters failure , so you might want someone competent checking it AFTER the converter failure for proper running(fuel trim in particular).

The convertor just going bad should not be a issue other than performance to begin with. It will however as it gets worse cause back pressure in the exhaust, leading to major loss in power. The main issue at hand now is the cause for the convertor to go bad in the first place. Not knowing what is causing the convertor to go bad needs to be address due to that issue could cause more problems than just the convertor going bad.