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I have one in my backup suit. They work fine. It uses same hole punch tool (7/8") as installing a P valve. You could put it anywhere in the suit (down towards waist or inside a pocket).
Honestly I just use the combination bulkheads now because it allows me to quickly swap inflator valves between suits and I hate putting additional holes in my drysuit but other than that there is nothing wrong with the dedicated heater bulkhead.
If you install it near your zipper and you have a protective overlay zipper you can cut a small hole to tuck the excess E/O cord when you're not plugging in heat