I'm afraid this might not have the desired effect. As other have pointed out, shooting at longer distances requires a calculation of lead time and arrow drop, as it should. However, quite rarely do I find targets that maintain their current course for very long. Sideways movements, slowing down, moving faster all happen quite often. This being the case, the longer it takes for an arrow to reach the target, the more likely it is that the target has altered their course in the time between release and impact of the arrow. Successfully hitting a target would therefore become more luck dependant rather than skill dependant, at any significant range.
Can't we leave archery as is? I have recently done both an archery gen and a cav gen. I can tell you that I don't particulary feel more skilled at either role, however my k:d ratio as an archer hovers around 1, while my cav k:d (currently at level 26, mind you) is well into the 2's.
If developers would like to balance a particular play style to become more skill dependant, why not start with the style that seems to do exceptionally well even when the player is less than exceptional?
Don't get me wrong, I'm not lobbying for a cavalry nerf, but higher dependance on skill is a good thing and cavalry could use some adjustments before we start messing with archery, especially in a way that very well may not end up accomplishing what was intended, instead resulting in a nerf.