This comprehensive review navigates the intricate landscape of ethical considerations surrounding the use of Computer-Generated Imagery (CGI), with a specific focus on the ethical dimensions of deepfakes. As CGI technologies continue to advance at an unprecedented pace, concerns about the potential misuse of manipulated content have become increasingly significant. This article seeks to provide a thorough analysis of the ethical landscape surrounding CGI, shedding light on the emergence of deepfakes and their far-reaching implications. From the ethical considerations associated with manipulating visual content to the potential consequences for privacy, trust, and misinformation, this review aims to be a comprehensive resource for understanding the ethical complexities inherent in the intersection of CGI and deepfake technologies. Real-world examples and case studies underscore the urgency of addressing ethical concerns and implementing safeguards to ensure responsible use in an era where digital manipulation has reached unprecedented levels.