I don't think we would want to do this for a number of reasons:
1. The real-time display is reporting actual data, what PHD2 actually sees. What you're talking about is part of analyzing and interpreting that data, something that should be done after the fact.
2. The physical reality is that guiding *is* easier closer to the pole and guiding results are often better. Why would we want to hide that?
3. Not all of the RA movement is attributable to RA drive tracking error, so you can't apply a cos() adjustment to everything. Things like seeing effects and shifts in payload don't scale predictably with pointing position.
4. This wouldn't work at all for users of ST-4 guiding who don't have a mount connection. So your suggestion would probably help to revive the myth that ST-4 guiding is more accurate than pulse-guiding.
5. Making a change like this would trigger a high volume of complaints that PHD2 guiding had suddenly degraded because of a "bad" release
Regards,
Bruce