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The adjustable steering wheel feature is great on the FlySky Noble NB4 and the friction joint does a great job of holding the setting... However if you use the 0° setting as I do it doesn't hurt to have a physical lock to ensure the wheel does not move at all!
This piece installs with either (2x) M3 X 10mm (minimum length) screws of your choice or you can use M3 set screws (i'd recommend at least 5mm minimum length). If you want to prevent the screw heads from scratching the aluminum arm you can use a very thin shim or file the surface back some and use a gap medium of your choice like a thin rubber/plastic/aluminum shim. There are also Nylon screws or rubber tipped set screws available from sites like McMaster.