Yes, they help.
My shooting buddy has eschewed gloves all his life. Doing carpentry, yard work, everywhere.
He bought a 500 a while back.
Got some soft tissue damage at the base of his thumb.
I bought him shooting gloves for his birthday a couple years ago.
Those gloves, he uses.
I found wearing a glove on my shooting hand with my Casull and his 500 helps reduce the sting. Unfortunately, I used a regular leather glove. Two shots and the palm of the glove at the base of my thumb had a big rip in it.
With a gun like the 500, at full power, a really tough glove will protect your hand from the impact, and, more importantly, from the friction of shooting.
The alternative is to have a padded grip on the gun. Check out the ribbed grips on the heavy caliber lightweight offerings from Taurus (whether you like or dislike Taurus revolvers, those grips are COMFY!).
Yes, they help.
Lost Sheep