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On the underside of the lock ring is a very thin metal washer, I haven’t read anywhere that it needs to be removed however it seems to me that it would prevent the ridges locking into place. Do I leave it on or take it off?
It’s a crush washer, leave it on 🙂
Leave it on... It compresses and conforms to the end of the freehub.. Takes up any minor tolerance issues. You won't die if you take it off but it's there for a purpose!
Leave it on.
Cheers
In the Park Tools video he greases it before installing the lock ring, but others don’t seem to bother. As I don’t have any grease at home (except Molly grease for Air rifle) Is it necessary?
Nope! Fit away