New to Site - Toilet Flange Question | Terry Love Plumbing Advice & Remodel DIY & Professional Forum

Hi guys

I'm replacing thin glued down floor tiles and replacing with a floating LVP, in doing so, my flange is going from a 1/8 above the finished floor to a strong 1/16 below the finished floor. I know that in a perfect world the flange would be roughly 3/8 above --- will the 1 1/4 extra thick wax ring address the change in flooring?

I previously had a toilet leak issue that was likely my fault --- failure to inspect and maintain. A Subfloor patch was required. :-(

Thanks in advance!