When I ordered my SH4, like I dummy I only ordered the scope and wasn't able to get rings added to the order in time, so I snagged a set of Athlon low rings off of Amazon. They aren't quite as low as the Arken low. In any case, when I ordered the EP5, I ordered it with medium rings, so I put the EP5 on my main rifle with the Arken lows - scope clears the barrel by about 1/4", maybe less, and I used the medium rings to put the SH4 on a long barreled AR. Both seemed to work out really well.
In your case, I can see why you'd want to drop that scope down a bit - that's a pretty big gap between the barrel and scope bell - but I've seen worse.