I see the question in this way:
If we have free will, does our free will (our 'I') allow us complete moral freedom or are we subject to a higher authority?
I hold it as a given that our free will must necessarily be subject to the authority of our physical limitations.
There is no "I" in life to lose, only the realization that this is so.
Nevertheless, we must behave AS IF "I" were real. But be sure to "see through" this essential fabrication. Something does not have to be true to be useful or necessary.