You don't need folding sights with a red dot sight mounted at the proper co-witnessed height which is with the "M4 Spacer". About 1/2" higher than what usually comes with the inexpensive clone dot sights.

A telescope will mandate a folding rear sight if you want any sort of consistency in trajectory vs. the iron sights. The optics will generally ignore the front sight post.

The high trajectory of .22LR requires hold over/under even when zeroed at 50 yards where it peaks.

-- Chuck