Yes, I'm on the fence with morphology and you are correct that some think it's a big deal and others don't worry. A good sperm is not a perfect sperm! Depending on the problems seen with the sperm will also play into the equation. If only slightly too round of heads no big deal but if major abnormalities yes this may need address.
I think getting your PCOS straightened out will be the most helpful but also worth while to make sure he has a sperm healthy lifestyle.
I guess the big thing is just making sure he is doing everything he can to ensure quality sperm production.
Take daily vitamins/anti-oxidants. Give a fertility blended vitamin a try like FertilAid for Men.
Good to hear he's not a smoker or heavy drinker

Is he exposed to any chemicals with his job? If yes I know he can't just stop working so he needs to make sure to take the necessary precautions like wearing gloves and face mask and apron. Always wash hands after handling chemicals...
Any heat exposers?
Have him make any of the above changes and start those vitamins and retest another semen analysis in 3 months. You can not judge fertility off only 1 analysis.
Amy Perkins, MS, TS
Laboratory Supervisor
Arizona Andrology Laboratory & Cryobank
International Center for Vasectomy Reversal