A minimal HUD is usually a good thing but mostly because its a lot of information that matters little for actual gameplay. Considering the type of game this will be it would be helpful to see the following.
Time of day
Name and caliber of the equipped weapon
Wind direction
Weather type
Temperature (for survival mode, if we get it)
Ammo count
Objective
Scent duration/timer with actual numbers
I have to admit something here, since play Outer Worlds 2 I've realized I love having the ability to make the hud displays much smaller and placing them more toward the corners of the screen.