time crisis II isn't very playable frame rate wise, however I can tell there is at least no gun flash when I play the game (its amazing to see the game with no flash btw!), and yeah same goes for Carnevil, obviously both games had gun flash back in its day of the late 90s, yet it's not there in mame, yet time crisis 1 has the flash of the original arcade, so it must be some setting in mame somewhere.
Choosing mouse or no mouse makes no difference, there is still gunflash, there are no differences in my mame setup for time crisis 1 vs Time crisis II/Carnevil, yet the flash is there in TC1, I was thinking hidden DIP Switches and service menu options but I tried this and there was nothing, Tried looking into cheats but it wasn't there as well.
aimtrack H/W settings provide no such options, they wouldn't anyway since they don't use on screen flash technology in their guns.