Squat technique question re depth
As a hobbyist lifter who does not compete in powerlifting, is hitting the technically required squat depth important because we like to have benchmarks so we apply formal rule sets to our hobbies and therefore use the official powerlifting "good lift" standards, or is it important for results of the exercise, whether strength or muscle building, such that if you're an inch or two above correct depth, you are meaningfully reducing effectiveness?
Also, to the extent going deeper puts you at slightly more risk of injury, is it proportional to whatever benefit you get in strength or muscle building?