chrissy The only thing that matters here is that the device cannot be easily unlocked by an attacker in BFU and AFU mode. If you do not trust the Secure Element, use a passphrase of 6 to 7 random words, which should prevent most brute force attacks. Thanks to the Secure Element, a random 6- or 8-digit PIN should be sufficient for most users.
The profile icon in the upper right corner indicates to the users which profile they are on, which changes color depending on the profile. An attacker who physically accesses the device and sees this icon cannot do anything useful unless the device is unlocked using the first unlock method, hiding the icon would not change that.