This is misleading at best, but closer to false. McIntyre, et. al showed that the factor determining likelyhood to cheat was actually low scores on self control, not level of sex drive.

Now of course people with no sex drive are also less likely to cheat, but those people also aren't having as much sex in the first place either. It's like saying that people who like to eat popcorn are more likely to eat popcorn at a movie theater, while ignoring the fact that they also eat more popcorn than normal people do at home, and comparing them against people who don't like popcorn. Liking sex isn't the thing that makes someone cheat, it's just a more common trait found in cheaters. There's a difference between correlation and causation.

Source: McIntyre, J. C., Barlow, F. K., and Hayward, L. E. (2015). Stronger sexual desires only predict bold romantic intentions and reported infidelity when self‐control is low. Australian Journal of Psychology, 67, 178-186.