Hi Eric,
There is currently no option to send email alerts for things like the examples you mentioned. If you are looking for alerts on those types of items we do provide SNMP Traps.
Enable SNMP Traps - CA Privileged Access Manager - 3.1.1 - CA Technologies Documentation
As for the "Monitor" email settings, this is mostly used for the "Email on Logon" functionality for user access monitoring. It can also be enabled for device access monitoring to get emails when someone uses PAM to access specific ports/access methods to the device.
There is also a second email server option for credential management that is used for things like Dual Authorization emails when checking out accounts.
More info on email alerts in PAM can be found here:
Why are emails not being sent from CA PAM? - CA Knowledge
Regards,
Christian Lutz
Support Engineer
CA Technologies - North America