I don’t know. Would depend on the license, I suppose. I own Odin Inspector and don’t use it if I am working in collaboration with other people. I also almost never use third party assets.
It appears there are 2 license types; single entity and multi entity. In both cases it will be fine to have the assets in the repo. For single entity you would just need to be able to prove that all the people working on the project have their own licenses in the event that someone asks. I mean, the Unity asset store license says you have to be 18 or older to use the store, but I am pretty sure there are plenty of people using it that are not