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It is the assert that needs changing. You'll need to use _Py_GetBaseCodeUnit

It matters because we get the next instruction's oparg and check it next_oparg = next_instr->op.arg;. ENTER_EXECUTOR overrides the oparg. If we use _Py_GetBaseCodeUnit, it will significantly slow down the current code, so I choose to deopt instead.

We need to check for ENTER_EXECUTOR either way, so we might as well handle that case without deopting and losing the big-O improvement.

next_oparg = next_instr->op.arg;
if (next_instr->op.code == ENTER_EXECUTOR) {
    _PyExecutorObject *exec = _PyFrame_GetCode(frame)->co_executors->executors[next_oparg];
    next_oparg = exec->vm_data.oparg;
}
// Updated assert goes here

We could avoid accessing the following instruction's oparg by storing the local variable's index in the inline cache.
It would also then be able to handle:

BINARY_OP # To be specialized
EXTENDED_ARG # 1 to 3 of these
STORE_FAST