FYI, the Trek Fuel Exe can be run as a mullet and in Treks FAQ they state:
Is it compatible with other wheel/tyre sizes?
Yes, this bike is mullet-compatible. Riders can run a 27.5” rear wheel for better bike-to-body clearance and more agile handling. This requires the Mino Link to be in the High position. Note, the smaller wheel circumference will affect the accuracy of the speed reading and cannot be adjusted. For example, switching to a 27.5 x 2.5 rear wheel and tyre combination will reduce cut-off speed by about 0.6 mph (1 km/h).
As with anything YMMV depending on tyre sizes etc. Having run my Fuel Exe as mullet the differences are very subtle but TBH I really didn’t notice any change to the speed/assist cut off