From the people I know who’ve been involved in doing gel testing at a professional level, reducing muzzle velocity to get a lower impact velocity will skew the results for exactly the reason you’re thinking. I took it from our conversation that they sometimes go to the trouble of doing the gel tests at long range, but don’t know much for details beyond that. I’ve actually always wondered if you could use an extra fast twist barrel at low velocity to get meaningful results without having to do it at long range which gets complicated for a bunch of reasons.
ETA: not saying no one publishes results gathered by reducing muzzle velocity, I don’t doubt some do. Just that per my understanding it isn’t apples to apples to do so, due to decreasing the rpm.