The shape of your riser often dictates how much reinforcement is needed in a riser regardless of wood species. But using softer hardwoods like black walnut and curly maple you need to be careful.
There are tricks that can be used by tying your limb pads together using a radius shape to the back with wood , phenolic, or even G-10 on the limb pads, and use overlays on S shaped risers to cap the end grain.
But.... you need to think about riser flex too in heavier draw weight bows. That is where an I beam design really shines. and... you can use wood as an I-beam with better luck than using composites.
To answer to your question as to this riser needing an I-beam..... No.... but you may want to consider doing overlays on the back of the riser to cap any end grain on that walnut. Kirk