Doubt it. I just added some where it was missing by the window and edges where there isn't much water run-off. I don't have a pic, but my siding goes over top of the foundation more than yours, but it still fine. You're filling in big gaps with foam, and other small gaps are just fitted with copper mesh.

I'm in a townhouse, so two areas (and the biggest being the backyard). I bought a roll of copper mesh (on Amazon), folded it over and stuffed it under my siding.

I used my little snake camera to see where there are possible gaps. Found a few where the fuckers could climb in, but they were coming up thru the window - as a small area was kissing spray foam.

In the larger holes like your picture (and on corners), i put the mesh and sealed it off with spray foam. The tighter spots I left the mesh, as it was held in palace tightly by the siding.