The actual output voltage of the maf is only important if your using standard injectors, ecu etc
With larger injectors like yours the maf maybe reading 4.5 volts but due to the large injectors and emanage being used the ecu will only be seeing around 3 volts(as the airflow reading is reduced to fool the ecu into lowering the injector duty cycle) so it can still increase the fuelling until it reachs its max readings its mapped for which will probably be around 4.5-5volts though the emanage will have tobe programmed/mapped to give extra fuel once the airflow meter reachs max output, so say at 5000rpm the maf maxes out the emanage would then be setup to increase the fuelling above that rpm to compensate for the fact the maf has maxed.
I presume the z32 maf is fitted not because it changes the output reading and can read for 600bhp its just the fact it can flow 600bhp of air through it while the standard unit can only flow around 380 ish before it becomes a restriction.