Help with new gear

I've been using the x56 for a few years on elite dangerous, and wasn't too also start getting into ms flight simulator.

I recently picked up a thrustmaster MDF cougar and am waiting for an lcd screen to mount to it. I was hoping to get some help on how to properly set them up. Does anyone have any guidance on how to set this up and configure the functionality?

Can i just rely on the in-game config and keybind settings, or do i need to run other software to best take advantage of it all? Is there a recommended software for the lcd - i read i can use some sort of window grabber so the lcd can display stats like fuel, pips, or other useful items.