I had the original sideplates on my 1Up with a standard hitch and it folded up fine on my Sahara with Rubicon wheels and KO2 33" tires. When I went to a LOD rear bumper with a built in hitch I had to run a drop hitch until I had custom sideplates made at a local machine shop, since 1Up refused to make straight sideplates. Now I run no drop hitch or extender and have about 3/4" of room between the spare and the rack when folded up. That's about the same as when I had the original bumper and hitch.My measurement from bottom of the rear spare tire to the top of the hitch is 4 1/8" (inner receiver dimension). I also measure 7 1/4" from the hitch to the outer surface of the rear wheel. That doesn't include the back-up camera, but I don't think that's a problem because of its height.
Below, and attached, are the dimensions that 1up staff provided on the reverse side plate. (I thought others may find them useful.)
I think the rack will clear the rear tire when it's in the flat or "ride" position (with bikes loaded), with the reverse side plate and no extension. While not in the diagram, 1up staff indicated that the distance from the hitch to the middle of the closest bike platform in the flat position is about 11 inches -- which is sufficiently greater than my measurement of 7 1/4".
In the up or storage position, the diagram below shows 3.77" from the top of the receiver (outside dimension, which could vary by hitch because of the lip). Or in the .pdf file I attached, they show 4.1" from the inside of the receiver to the top of the first bike platform. This is less than than my measurement (4 1/8" or 4.125"), but not by much.
Should the rack clear the spare tire in the up position, without a hitch extender, my sense is that it will be very close.
For me the major appeal to this setup is skipping the extenders, drop receivers, and so on.