Driving licences issued by any Eu Member State are recognised throughout the Eu.

They are valid on the Italian territory, provided that the licence is valid, it is not suspended or restricted and has not been revoked in the issuing country. You can drive with your current licence as long as it remains valid.
Hence, neither formal recognition nor obligation to exchange is envisaged.

Nevertheless it is recommended to apply for either the exchange or recognition of the EU driving licence to enable the Italian authorities to deal with renewal or duplicate procedures.

Pay attention that one month before the expiry date you are obliged to exchange (riconoscimento) your driving licence with an Italian one.
Your new licence may have a different validity period and will be subject to any restrictions /conditions that apply in Italy.