The gauge is 'in-line' and not 'dead-end' so whatever air is in the hoses will get to the main hydraulic system IMHO.
Won't it mix with the hydraulic fluid, which is not recommended?
"Cavitation, on the other hand, is the formation of gas bubbles that create vapor cavities in a liquid. It occurs when the gas bubbles in the liquid are subjected to rapid changes of pressure. This higher pressure causes the air bubbles to implode, which generates an intense miniature water hammer (shock wave). This shock wave creates significant wear as the gas bubbles implode on or near a metal surface, causing cyclic stresses through repeated implosions."