The amount of slack depends on 1) the amount of suspension travel, and 2) the relative positions of the gearbox sprocket centre and the swingarm pivot. In theory, a bike with the swingarm pivot concentric with the sprocket could run with almost no chain slack. But the manufacturers have done the maths and I would go with what they say.
On the XTR it specifies 40-55 mm (from memory)> I set mine to 45 mm and it is fine. The chain rests on the slider when the bike is unloaded, but as soon as there is a load on the suspension it is clear.
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