I agree with everything the OP says. Arcane Ward should function like it does in PnP, and we should be able to see how much HP it has remaining.
Beat me to it.
Ritual Spellcasting *does* exist in the game....just not where it should.
For example, if you make a Ranger you can "ritually" cast Find Familiar. Aka they just make it a Cantrip for them and not actually take 10 minutes. The fact that Rangers have ritual casting but Wizards don't is bonkers.
I'm guessing that this situation is temporary, because the ritual casting system isn't in place yet.
Ritual casting a spell, by the book, takes 11 minutes. I think in BG 3, it should take 60 real-time seconds.