No, not at all.
Light will reflect off every edge, scattering there.
The opening edge - same as with a regular collar - will create a ring in the beam. Sharpness of the edge determines how big it will be.
Other reflections will just mean that light fails to hit the die and hits MCPCB instead. This will somewhat reduce collar efficiency - hopefully not much. The reflections won’t hit the lens and won’t show up in the beam though.
As to flats - they are off the light path and so they have no effect on the beam.