I need to clarify something important right away: you cannot configure DJI O3 Air Unit for HDZero compatibility because these are competing digital FPV systems that operate on completely different protocols and frequencies. The O3 uses DJI's proprietary OcuSync 3 transmission on 5.8GHz with a closed ecosystem, while HDZero operates on its own digital protocol also on 5.8GHz. They simply will not communicate with each other.
What you can do is set up two separate racing drones to conduct meaningful latency comparisons. For the DJI O3 setup, you'll mount the air unit, connect it to your flight controller via UART for OSD integration, and pair it with DJI Goggles 2 or Integra. The O3 typically delivers glass-to-glass latency around 28 to 35 milliseconds in racing mode, though this varies based on your selected resolution and frame rate settings. Running 1080p100fps will give you lower latency than 1080p60fps.
For HDZero, you'll need their Race V3 or Freestyle VTX paired with HDZero goggles. The latency here sits around 8 to 12 milliseconds in 90fps mode, which is noticeably lower than O3. This difference becomes apparent when flying tight technical tracks at high speed.
To run a proper comparison, build two identical quads with the same flight characteristics, motors, and props. Install O3 on one and HDZero on the other. Fly the same racing course on both systems back to back on the same day. The lower latency of HDZero typically translates to sharper reactions through gates and faster split lap corrections, though O3 offers superior range and penetration.
Some racers actually run both systems on different quads for different scenarios. I use O3 for long-range freestyle and exploration where the 10 kilometer range and superior interference handling matter more than razor-sharp latency. For tight indoor racing or technical courses under 500 meters, HDZero's minimal lag gives me faster reflexes.
If you're trying to decide which system to invest in for racing specifically, HDZero currently holds the latency advantage at roughly one-third the delay of O3. However, O3 provides better image quality, greater range, and more robust signal in challenging RF environments. Your choice depends on whether you prioritize absolute minimum latency or overall system capabilities.