I like the katana a lot; it’s different attacks add a fun new element to the game. The charge is great for those times when you get surrounded by maul and hammer users and will add a new level of creativity to every fight.
For the light hit combo I like the speed of the 1st hit in general as well as the bleed, although the speed between swings 2 and 3 seem a little slow. In addition the time between hit 3 and the finisher seems to be a split second too long and I’m getting interrupted a lot. I would suggest having the finisher start a smidge earlier, hits 2-3 swing a little faster, and/or enable hyper armor.
Years ago I took Iaido and Ryu Sei Ken and the light hit combo chain feels like a Kata, which looks great however in a real fight there wouldn’t be as much pausing between swings: apparently duels between well trained samurai lasted less than 10 seconds because of the speed of the blade coupled with the sharpness.
Love the Musashi legendary too, and if you release the Yamatai DLC around the same time as the Katana live release it would feel like Christmas