The biggest benefit to attaching the transmitter with the hose is preventing accidental use of it as a handle to pick up BCD and bottle. The thing seems pretty robust, but prob not wise to use it as a handle.
Tradeoff is you have to deal with routing the hose / attaching the device somewhere in your BCD which can make bottle changes (slightly) more finicky.
(Applies to all transmitters of course)
Mine is threaded directly on the regulator.
All required parts to use a hose instead of direct attach are included. If you go that route, read the instructions carefully.
ETA: the transmitter use a sort of sonar methodology to send data from the transmitter to the watch when underwater, which can be set to different power levels. At higher power you get more distance / more reliable signals from the transmitter to the device, but it is audible. (Think the later stages of 56k modem handshake sound that lasts a bare 1/20th of a second, every few seconds).
It really bothers some people. It bothered me in the pool. However, I never noticed it ocean diving. At lower power levels the watch would occasionally miss a scheduled update and so alert me it had lost connection, usually resumed by the next one. But can be a bit disconcerting for new diver.
This can be mitigated by keeping the transmit power high, moving the transmitter closer to the wrist you wear your watch on, or both.