No, you don't need Wordfence.
Many of our users aren't aware that 2MHost employs Imunify360 on all servers. Imunify360 is a commercial software that provides a PHP Security Layer, malware scanner (Antivirus), and Web Application Firewall (WAF) that functions like Wordfence but without slowing down your site or consuming many resources.
Keep your WordPress, along with its themes and plugins, up to date, and you can safely drop Wordfence and rely solely on Imunify360. Imunify360 is running in background and scans all website contents daily, and you can check your scan report in your cPanel > Imunify360. You can initiate a website scan on demand at any time for free.
Only one case you may need Wordfence, if you want to block whole countries from accessing your website AND your website is not hosted on LiteSpeed server, In LiteSpeed based servers, you can use GeoLocation settings to limit the access to your website for certain countres.