How important is to know in depth circuits/eletronics to learn advanced topics in exploit dev?

I mean, this is probably an bad question as it's obvious that if you're doing RE on some IoT device, specially some FPGA os smth, you need to know how they work in depth. Ok, but what if you are exploiting comercial software or even "low-not-too-low" level stuff like kernel or hypervisor? An really depth knowledge, like microcode and what circuits are turned on on every instruction, are necessary/mandatory or not?