This would be my preference, and the earlier TNG map (the 3D one with the boxes) had both far away from the Federation core, which would support that view.
Unfortunately, in DS9, presumably to justify the rapid travel times between DS9/Earth/Cardassia/Feringar, both homeworlds got moved considerably closer to Earth, so it makes a later discovery harder to justify. It's probably more egregious for the Ferengi, as Feringar was probably way too close to Earth to justify not knowing what Ferengi even looked like until the 2360s.