The bike can read the sensors in the new wheels, after you take the bike back to the dealer to be re-programmed. The early LC’s could recognise 2 different sets of wheels eg. off-road tyres on one set and pure road tyres on another. The later ones cannot so changing wheels illuminates a warning light.
The ESA alters the preload but that is in relation to the load it senses, eg a pillion or lots of luggage. Changing the front tyre to a 17” drops the front by 1”. The ESA won’t compensate for that, so the front of the bike will drop, altering the weight distribution by lowering the engine and possibly affecting ground clearance. Would be a bit like dropping forks through the yokes on a normal bike. I want to keep the stance/weight distribution the same but be able to choose sports tyres as I don’t venture off road at all.