Can Modules subscribe to Events?

I have a Forge app for Jira using the Forge UI Kit. This App consist of various modules, one of them being a Custom Field and another an Issue Panel.

The Issue Panel renders data that depends on the Custom Field value. So I want that whenever the user changes the value of the Custom Field on an Issue, the Issue Panel re-renders with the updated data.

I have been investigating both the Jira Events (looks like the correct option would be avi:jira:updated:issue since I want the Issue Panel to react to updates on the value of the custom field) and the Async Events API, but both seem to be built for functions that run in the background, and not for Modules built with UI Kit.

Or maybe I am missing something? Any help or idea would be very much appreciated.

Thanks in advance.