I'm no expert at this stuff and also don't want meters all over the field. But if it replaces the score banner at the bottom like in this pic, the user could easily see it while still looking downfield.
Notice the size of the "sweet spot". This is for a QB with high accuracy ratings and no pressure around him.
Now, lets put a below average QB in there. Same pic, same variables(no pressure) and look how the sweet spot changed.
Ratings still come into play in these scenarios because it determines the size of your accuracy window.
Making this meter dynamic would be great. Like the moment your QB breaks the pocket the green and yellow spots begin to shrink and red takes over. Maybe your QB just got blindsided by the DE. And now its 3rd and 22. That green area would really shrink due to the confidence of your QB. Now would you call a deep passing play knowing the chance for a bad throw has increased or be conservative and run a draw.
I may have figured out a way to still use lob and bullet passes work the same way using the accuracy meter. There are two sweet spots, one for the bullet pass and one for the lob. It still would depend on how long you held down the button.