The exhaust will be fine as it's a cat-back system. It will allow for you to keep the stock O2 sensor and maintain full functionality. The cold air intake will increase air flow but not enough to throw off the ECU and alter the air/fuel ratio. You are natually aspirated so there's no risk of damage to the engine or spark knock.

On a similar note, have you looked at aFe's product offerings for the 2020 4Runner? They have an exhaust and intake system and both are 20% off:

MACH Force-Xp 2-1/2" to 3" 304 Stainless Steel Cat-Back Exhaust System | aFe POWER

Momentum GT Cold Air Intake System w/Pro DRY S Filter Media | aFe POWER

They dyno test all of their products and the two items above combined add +30HP and +43TQ. I just bought a new cone filter from them for my custom intake, aFe used to be the supplier for the TRD air filter line (and they still might be).