That really helps with understanding what you have. Since it's a universal meant to fit "early rat rods" it may actually have been meant for incandescent bulbs (one thing I notice is no specific flasher is recommended). Mixing and matching bulbs and flasher can show unexpected performance.
I found a list for this flasher that includes a bit more information on installation:
https://www.jdmspeedmotor.com/products/chrome-12v-universal-rat-hot-rod-turn-signal-switch-for-ford-gm-with-flasherJust like my switch, I see where it states to ensure good grounding. I wasn't willing to remove paint on my column just to get a good ground, so I ran a separate ground wire to get it connected. Yours may be sufficient, but you could also attach a temp ground wire to verify. I think testing with an older flash may be helpful.