I don't have an absolute answer ^^.
I think feedback is part of the game experience and player interactivity. The more feedback you provide, whether visual or audio, the more the player understands and feels that they've done something in the game.
Then it's a matter of figuring out how all these visual and audio cues can fit in with your aesthetic and what you want the player to feel when playing your game.
Moreover, games that demand a lot of our concentration also require good communication with players. They need to know what's going on, without being overloaded with superficial information.
In short, animations, sound or visual signals, red tints on the screen or an effect on the player - all these are valid. Maybe each of these things needs to be added, maybe just a little.
Example: for my game, when my character is wounded, there's a sound that tells us so, the screen turns red for a short moment and of course a heart is removed from the life gauge. I didn't do any animation for the character, as he's far too small on the screen and the game is already moving fast. On the other hand, for your game, the characters are large and contribute enormously to the aesthetics of your game, so we'd like to see a nice animation when we're injured, or even just a single frame. The same applies to sound. The lack of sound when someone is wounded or injured detracts a little from the beauty of your aesthetic and hinders immersion in your world.
In short, my advice: try things out and keep testing your game :D
I wish you all the best for the future in this jam and in game creation ^^