So I know that you should have hard edges across your UV seams on hard surface models for proper normal map baking but I just realised I don't know how this applies to character/organic models. I can't see why you wouldn't but I don't recall ever seeing a character model with hard edges in it.
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It's beneficial when you've got quite sharp edges in the low poly mesh because it means the normal map has less "work" to do - it doesn't have to account for a rapid change in surface normal. Edges with a 90 degrees or sharper can be problematic even for properly synced normal maps. For softer shapes there's not as much of an advantage because there's not as much work for the normal map to do anyway - it's quite a regular and slow change in surface normal and it's unlikely your organic shapes will have lots of sharp edges.
For characters... I might add hard edges at "natural" seams (where clothing starts/ends for example - but only if you've got a nice loop that fits quite closely around that natural seam) or on hard-surface parts of the character (accessories, etc) but not on the smooth parts (the UV seam that runs along an arm or leg, for example, or around the head - I'd leave those smooth).
The tangent settings are just set to marmoset.
There may be some drawbacks to doing it, especially if you need to make LODs. Generally with organic shapes, you'll get more issues with seams when reducing the triangle count if you have hard edges.
As to your first question, its too vague to really answer. What is a character and why is it different from a prop? A character could be a robot comprised entirely of hard surface objects, a dwarf with sharp, metallic armor. Whether something is a character or not really has very little to do with it in reality. The important thing is the structure of the asset itself, as Steffen mentions above, the smoother the surface of the model/shading is the less need for hard edges. This migth vary between different parts of a character, again the soft fleshy bits and hard edged armor, gear, etc.