Hey BPJ, I feel you. I've been nothing but injured-slash-recovering from injury for the last 10 months or so . . . many resets and goal shifts along the way. Mostly because I realized my early goals were unrealistic and I didn't know my body that well after all.
I suppose the ultimate answer is "everybody's different" of course, especially when it comes to goals. I think many people succumb to the "more is better" approach and try to apply it almost everywhere in life when they should not. The easiest one in weighlifting is "more weight" but that is overly simplistic.
You bring up the notion of risk tolerance, and if that little voice in the back of your mind is saying "this is too risky" you should probably listen to it. And what is "more" anyway, really. Is 3x5 at 450 lbs "more" or less than 4x5 at 337 lbs.
Today I do some exercises that were impossible for me 1 year ago, but now they seem easy not at all risky. Since the "typical" profile is that the DL is the heaviest exercise, followed by the squat, if those two are inverted for you, then yes, maybe your squat is way too far ahead of the game and you are risking injury to your back, joints, connective tissue, whatever.
As for whether it is "necessary" to squat more than double your bodyweight? Absolutely not. There's a quote in SS about very few people even needing to do heavy deadlifts, period. I think it was in the context of heavy singles in your program, but in general us regular people want strength and health and are not competing. I would just suggest that you get used to readjusting your goals to reality, because there are infinite options beyond "put x weight on the bar."