It's part of the character, so do it. A female Alex Louis Armstrong, Radi Jaeger, Swaine, or Gym Leader Blaine without their facial hair would look just.... odd. Even if a construction paper mustache or something.... something to look accurate. In a similar stance, a guy doing Morrigan, Vert, or I dunno, Beatrice, would need to work on creating cleavage.
Of course, you can cosplay without these features, but if it just stands out on one character, it's best emulating it if you can.
Cosplay 1: Sailor Venus (Commissioner failed to make 4 month deadline)
Update: August 10th.... still nothing.
Reality: Recycled or no cosplay at all. Got to love commissioning! Thanks everyone!! Serious thanks to Dulcinea, who actually made the deadline for the accessories far in advance and of outstanding quality. Sucks they won't be used.