I think it would be useful, but only as an illustration of what your sensors are capable of under the best of conditions. It might be better to just use the DB editor (that's out there for download) to find out what each sensor range is, and then create a cheat-sheet to have handy during gameplay.
For example, while creating a mission recently, I wanted to test the ability of the FFG lookouts to spot vessels of different sizes. I turned on "View Sensor Ranges" for the lookout and found that it's 10nm, but when I tested the ranges of the lookout reports for certain vessels, they were quite a bit shorter.
TG
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