No, children don't really want to remember these things, mainly to form a good habit of reading ancient Chinese. This is the most important thing. How much they can remember and understand is secondary. My child began to teach her to recite three-character classics and disciples' rules at the age of two, which also helped her develop the habit of reading ancient Chinese. Later, she developed the habit of studying ancient Chinese and reading books every day.
But if the child asks, just explain it roughly according to the literal surface meaning, without too much in-depth explanation.