I don't think he is asking about a clogged filter
He is wondering if there is any symptoms to a miss installed "O"ring
The Filter By Pass valve has nothing to do with the O ring failure
I cant speak from experience about this situation but from what I understand is that If the O ring fails to seal your oil pressure will drop and the oil will start going back into the oil pan WITH OUT being circulated into the lubrication system of the engine.
I would think you would at least get a oil light on at idle after warm up but it depends how bad it is letting oil back to the oil pan.
So short answer I think is
" Yes the oil pressure light will come on as soon as the O ring fails".
problem is it may fail at highway speed and you may not notice it is on until it is to late and engine damage has occurred before you shut down.
But i do know that some engines can run a lot longer than you think with out oil in them (zero oil presure)
Don't ask me how i know this

I only use Mahle filters and hardware in my Air head.
If it were a spin on filter it wouldn't be a big deal.
But I think this set up is just to criticle to mess with cheaper filters
I tried a WIX filter which is highly regarded in the USA but the O ring was black and the gasket was thicker than the OEM one.
So didn't use it.