It looks more like the steering wheel of a ship than a handle of a valve on a pipe. I've looked up how handles on valves look on some random internet page (https://boilersinfo.com/types-of-valves-with-images/) for you;
The red color for handle I feel is a good choice (assuming it is somewhat consistent with other interact-able parts in your game). Additional it would help if there was some light hinting at the valve. Currently your eye is immediately drawn to the light on the left.
The sound effect is nice, albeit not very realistic (I have worked in a lab testing valves in the past). Mostly valves operate noiselessly. There might be an occasional squeaking. And there might be the noise of cavitation, which can occur when the valve is almost closed. Cavitation is vapor bubbles imploding (you might want to look up cavitation) and damages valves over time. You might be able to hear it if you open a faucet just a tiny bit (so that the water runs into the sink mostly without noise just a little above dripping) and put your ear close to the handle. You listen for short, sharp sounds like "pop" not unlike firecrackers.