In the grand scheme of things it's not all that important. There's too many people making mountains out of molehills. In a small way it does help pressurize the oil a fraction of a second quicker. This only applies to oil filters that are installed cup end upwards. If you forget to do it, or are unable to do it, or simply choose to ignore this practise, don't fret. You're not creating excessive damage to your engine. The important thing is that you are properly taking care of your engine by changing the oil regularly.

Of the seven cars I take care of, only my 71 Cutlass has the oil filter installed cup end upwards where I can practise this technique.

You must be new to posting on the internet. Don't type with all capital letters. It's not polite.

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95 E320 Cabriolet, 159K