Is there any Static Pressure impact on Orifice Flow Measurement?

Static pressure is not a concern here, because liquids are considered incompressible for all practical purposes.

Liquids can and do compress, the measurement of their “compressibility” being what is called the bulk modulus. However, this compressibility is too slight to be of any consequence in most flow measurement applications. A notable exception is the metering of diesel fuel through a high-pressure injection pump, where liquid pressures range in the tens of thousands of PSI, and the compressibility of the liquid diesel fuel may affect the precise timing of individual injections into the engine cylinders.