In-camera settings like Contrast, Saturation, White Balance, Hue and Sharpness do not affect your Raw capture -- they are merely "flags" used in creating a jpeg if you are shooting jpeg, and they also affect the histogram and LCD display, which uses the jpeg "preview" which will also be imbedded in your Raw file.
What you have suggested (setting your camera to low contrast) can have two effects: first, when exposing, you will see a histogram that is more accurate for Raw shooting -- you'll see the extra highlight and shadow headroom that would be clipped by shooting a jpeg with higher contrast settings, so it can help you to fine-tune your exposure accordingly. Second, if you have your saturation set to low, and a reasonably accurate white balance, and are using the RGB histogram in the camera, it can give you a better idea of when a color channel is being clipped which can be useful.
Also, if you are using DPP as your Raw processor, the in-camera settings will be your default "starting point" so if you set your Picture Style to Neutral or Faithful, you will get something similar to what Lightroom gives as a default, or DPP will match another Picture Style automatically, whereas Lightroom will not unless you apply presets.