There are LED patterns (disabled by default, can be enabled using mcetool) for the fingerprint sensor activity: PatternScanningFingerprint (the name is misleading because it actually shows when the sensor is active) and PatternFingerprintAcquired (which shows when the sensor is reading a fingerprint - either a recognized or unrecognized one). You can use them to monitor its activity.
I’ve got the latter pattern enabled - it shortly blinks green LED when the sensor is reading my fingerprint.
How did you enable “PatternFingerprintAcquired”? I cannot find any option for that with mcetool.