It seems pretty simple to just drop the boom a few inches. And, you can absolutely do what you are saying. But, the way such a modification affects performance is not a straightforward prediction. I will tell you this: In general, the boat will have less heeling force. What it does in terms of affecting boat balance, will have more to do with what you are using for a headsail and which direction you are sailing.
I can't even begin to break this down, but the nice thing is that you can lower the boom and try it out, then move it back if it doesn't work out. Should only take a few minutes and doesn't require any permanent modifications.
Something to think about is that the boom, as it is, allows for something like 6 feet of clearance if you're standing up in the cockpit. I'm 5'9" and just stand up on the lazarette whenever I want to work with the boom, just so I'm not reaching overhead. If you lower it 4", the average adult will have to duck under the boom, but just barely. This puts it in a dangerous position because it is not obvious that one needs to duck (as it would be if the boom was substantially lower).
If this isn't an issue, then I would say go for it.