moving the O2 sensor further back will have a similar effect as an older O2 sensor in general.... a little more sensor lag may not even be noticeable depending on how tightly the calibration engineer setup the O2 sensor PI/PID corrections.
not sure of the polling rate in this exact application, but GM(perhaps Suzuki would be better for a reference here) liked using 80Hz update rates for the O2 sensor for a long time, started moving towards 160Hz near the transition to OBD2. assuming a 160Hz poll rate, that's an update every .00625 seconds. assuming a 250ft/s exhaust velocity, the exhaust stream should move ~1.5625ft in that amount of time. if still on an 80Hz loop, then 3.125ft.
the calibration already has code in it to slow down O2 correction response based on calculated/measured airflow, so with increased exhaust velocity and an equal amount of time between pulses going over the sensing element, you may actually end up with a tighter closed loop correction range as a result. with that much distance from the exhaust ports though, definitely run a heated O2 sensor(assuming you don't already).
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