The old-school approach was to seal things off with paint or other products specifically created for
trees. Today, people advise that you do nothing. Trim it clean but then leave it alone.
If you seal it, you're most likely sealing fungal spores into the wound. They will eventually colonize the
wood and it'll be a pathway into the tree. But if you leave it exposed, the hope is that the tree will grow around the wound and seal it off. Depending upon the size of the wound, that may or may not happen. But either way, arborists recommend that you not paint anything over the wound to seal it.
"The rule of no realm is mine. But all worthy things that are in peril as the world now stands, these are my care. And for my part, I shall not wholly fail in my task if anything that passes through this night can still grow fairer or bear fruit and flower again in days to come. For I too am a steward. Did you not know?" Gandolf