Oil filtration protects the bearings first and the airend second. This element sits on the pressure side of the oil pump, so a blocked element shows up as a pressure differential long before it shows up as a bearing failure. Particles it misses are recirculated until the next change.
Match the thread and the bypass setting, and change the element with the oil rather than on a separate interval. A crushed element or a bulged can points to a sticking bypass valve, so check that before fitting a new one.
