Spindle ring exposed ..problem?

Note: This is on a Tundra but I figured I'd try summoning the mighty knowledge of TW on the topic since the mechanics of the hub are the same on both trucks.
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I just swapped out a bent spindle today and drove the truck around the block to make sure it drove fine. I'm getting an alignment tomorrow morning.

I noticed a problem towards the end of my install as I was bolting together the last few parts: the ring inside the spindle is showing.

As I tightened the axle nut it pulled the axle closer to the spindle and more flush with the ring but the top area looks like the attached pictures (see the yellow highlighted areas on the silver lip of the ring).

Is it okay that it's slightly exposed like this? The passenger side is perhaps 1-2mm more flush and overlaps the lip of the ring so you can't see any silver. Is the axle to ring contact area even a 100% seal? I thought the lip of the ring was more of a dust shield for the inner greased up part of it where the axle actually contacts when rotating.

The ring was flush on the edges all around inside the spindle before installing it.