It does, it's the music note symbol.
It took me a while to realize that was a timing indicator, and even now that I know it's a lot less easy to read compared to the targeting reticles. In general the readability for Performer targets is a bit iffy, having three buttons and four analog directions in a single, small target that otherwise looks identical isn't ideal, I don't think.
Though my main problem with Performer mode is having L2/R2 inputs. In the harder charts it makes me feel like I need a finger on each button in order not to press the wrong one and that's kind of an awkward way to hold the controller though I am somewhat used to it because of Project Diva Future Tone