The problem with having the probe that far away, is that the temps will climb rather slowly and not respond as quickly. You can hit the melting point before you are told your getting there. Then there is the obvious heat loss, the difficulty comparing your EGT readings to others who are in the traditional location, and with it down that low, it may be getting wet when it rains.
I'd wrap the pipe ahead of the probe to try and improve the readings accuracy if your not willing to move it.
I'd wrap the pipe ahead of the probe to try and improve the readings accuracy if your not willing to move it.