Well even if it has, these days Xiaomi puts only a White LED in it to cut costs, not even an RGB one. And it doesn't function in many apps due to their strict aggressive power management which whitelists only certain apps to send notifications. No separate indication while charging or when fully charged either, no per-app color notifications. It's a real disappointment.

K20 had LED notifications (how do you know that this one doesn't?)

Anyway. I'm pretty disappointed too, especially with the screen: it's too big, it has a hole in it and it's no longer AMOLED.
And what's with losing the telephoto camera?

What an awful design. Big hole in display, no notification LED, IPS LCD so whether Always on Display is present or not, it doesn't have any value since the phone won't be able to notify you of important events in a battery efficient way without turning on the LCD every single time briefly and taking down battery, and if you are away, you still won't be notified. 👎🏼👎🏼

Impressive as a cheap camera phone but overall, meh.