I think the norm is the speaker names shouldn't be visible when the main character is thinking. It's very confusing if the MC is speaking or narrating.
The speaker name font is too cursive and hard to read. Maybe change to another font. Same goes for the menu fonts.
For the speaker's line, you can add a black border for contrast so it's easier to read.
I have a bunch of UI references here if it helps! (I also want to make a game, hoping to publish this year)
Note that I'm not a UI specialist. I'm a game programmer XD
The game is great! The first part of the story is very intense. I love the music too and the effects. The Art is stunning! I specially like the background images. Good job to your team! Looking forward to your release! <3