A friend text me the other day, about a cherry tree that they have had in their yard for five or six years. It is beautiful and blooms well but it has these marks on it. At the top where the marks meet the branches a couple of branches have died.
The bark cracking on a flowering cherry is very common. Often it occurs on the east or south side of the tree and is called frost cracking. Cherry tree bark is typically thin. Your wounds look old. It could have been mechanical damage. It also looks like the bark is slowly growing back.
If you have sap oozing it may also have a disease. It would help if you would remove loose bark with a sharp knife. Also if you have branches that appear affected remove
them by cutting close to the trunk.
Some cherries live to be old and grand, but more often the cherry tree is likely to be a short lived tree. The best thing you can do is to water during extremely dry periods, and fertilize in spring.