Hi. If the 28VDC is regulated then I imagine a few capacitors wouldn't hurt and may help if it's noisier than acceptable for its purpose. I think isolated would refer to either isolated from the mains supply, and probably from your description isolated from the 28VDC input, which I've seen done with transformers in quite a few schematics, and there must be other ways to achieve this, like relays or solid state relays.
That's quite a big step-down from 28 to 5 or 3.3V, don't know the regulators you've chosen or the current they need to handle but from headaches I had with a power supply you may need to think about heat sinking the regulators and the calculations that go with seeing if the regulators will stay within their SOA/junction temperature. Sounds like a lot of reading the datasheets and doing the accompanying maths. Heat-sinking and airflow with a fan may or may not be a requirement for you.
Due to inexperience I found that a 24VDC down to 5VDC supply was pretty depressing to put together for 0.1A, and ended up using about 20VDC down to 5VDC as the Vin - Vout x I = Watts way beyond what I felt comfortable heat-sinking and just expected the regulator to burn up.
If you're not quite sure, have a little read/search the Internet for (what I imagine are) linear power supplies or regulators. Also, if you haven't already, you should look at SMPS regulators (not linear) on Digikey and avoid what I described above, apparently they are much noisier but will cope better with that step-down. Also, devices like buck-boost converters and so on may offer you a suitable option/method.