One rule in good coding style: Avoid distraction. Thus, to have a common way to do this - without a single or multi-line line - is the way to go:
if (!file_exists($templatefile)) { throw new Exception('Template file does not exist'); }
Of course, this is subjective (but this is a problem with your question), not all programmers are distracted by this. But actually your version control system will be. If you need to change a single-line if-block to a multi-line one, do you need to touch the if condition? Damn, no, because that hasn't changed, has it? But if you do not use parentheses, you still need to touch this line. This is what I would call a distraction. So this is a less subjective argument.
As you can imagine, there are other arguments with which you can reinforce this approach, for example, when you need to debug code, and you need to switch from one to mutli-line for various changes, etc. So, keep it in line with your whole code base, if it's an if block, it's an if block.
For fun, always drop the "if" block:
if (!file_exists($templatefile)); { throw new Exception('Template file does not exist'); }
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