I know it doesn't sound like a typical feline hyperesthesia (FH) presentation, but I suppose it is possible for this issue to manifest in different ways and vary in its' severity.
My Malibu likes to chase and catch her tail, but with her it is definitely a playful sort of mood. Marmalade (1996-200
had a mild manifestation of FH, not severe enough to make my vet think we needed to do anything. Marmy would occasionally chase/catch his tail and cry if he bit or scratched it. I do not think he ever drew blood, certainly never splashed blood anywhere. He would also ripple the fur along his lower back and occasionally leap up, run a few steps, shake one or both back feet and then sit quickly for a few licks along his back. Sometimes petting him soothed him, sometimes it aggravated the issue.
I wish I had learned more about composure liquid and rescue remedy early enough to have tried them on him to see if they could have helped him.
In general, I think if your cat is causing himself injury, that this is definitely something that needs some sort of intervention. Can you locate an E-collar made out of fabric? I've made a few and used them on a spay (Mischy) who was licking her stitches and Allie (Melysion) has one she uses for Toby when his allergies crop up and make him pull his hair. The fabric collar is flexible, won't jab into the shoulders when the edges encounter a solid object and I noticed the collar worked whether it was up in the cone shape or folded down over the shoulders like a cape. Either position worked; every time the cat pushed its' muzzle forward to lick an area, the fabric E-collar also moved forward and kept itself just past the edge of the muzzle so the mouth couldn't reach its' wound.
Ack! I did a Google-search for images and found my foster, Mischy, with the first quilted collar I made:
Here is Mischy modeling the collar folded down over her shoulders:
Here is another type commercially available: