SAE 50 is required for good reason, as it is heavy enough to not slosh around onto the engine but light enough to capture air contaminants. I have used store brand SAE 50 for decades for this purpose, which is much cheaper than racing oil. Overfilling the housing will restrict air flow through the cellulose membrane, as it only should act as a wick of sorts to drain contaminated oil back into the sump.
The base gasket also helps the clamp secure the housing to the carburetor, eliminating most vibrations caused by the engine. Excessive vibrations, especially if the sump has too light of oil, will cause too much oil to migrate into the cellulose membrane, which will restrict air flow into the carburetor.
One thing to look at is the throat of the carburetor...if it is too oily, then too much sump oil is getting through the cellulose membrane. Normal is to wipe your finger around the throat and have a pencil lead width line of oil present...if the throat is wet with oil, that's a problem.
This seems like a lot of work, but I can tell you that my only air filter costs since initial startup is buying a quart of SAE 50 at Advance Auto every 3 years or so...a trick I learned was to drain the sump oil into a clear glass jar every spring until I could see crud flowing out...whatever oil was in the sump then was used to resurface the end of the driveway, so roughly the top half of the sump oil was clean enough to reuse. Since this wasn't a daily driver, this worked out well, and I could spend my savings on a trip to Dairy Queen ?