It probably helps a little to understand some of the internals and math. Just to get a feel for what the limitations are.
But your job as a software engineer is probably to stick things together and bang on them until they work. I sometimes describe what I do as being a glorified plumber. It requires skills but surprisingly few skills related to math and algorithms. That stuff comes in library form mostly.
So, get good at using LLMs and integrating what they do into agentic systems. Figure out APIs, limitations, and learn about different use cases. Because we'll all be doing a lot of work related to that in the next few years.