You can do all kinds of weird things that might work...If you want to experiment, go for it. I've been down every one of those fitting combos and can get them to work.. But I don't feel like going thru the Work of describing the minutia here online.. for that you would have to be buying the beers.
The beauty of the 4x3 is that a straight 4x3 closet flange is designed to fit Inside the closet bend.. in your case you may end up cutting the flange to just 1" or so after the bend is cut flush with the finished floor. Or if you wanted to do some extra work and make sure you have clearance around the bend, you can install a 4" closet flange to the outside of the bend.
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