I haven't been impressed with any of the rail systems for the Benelli M4 to be honest. Their ergonomics suck, complicate disassembly and add a bunch of weight. Tape switches themselves are kind of shit, even the "good ones" like TAPS. The only ones that are tolerable are the Unity Tactical variety called the HotButton.
With an SBS, the weapon light will be closer to the muzzle which will equal a lot less barrel shadowing. If you must have a tape switch, I'd look into ways of attaching it to the OEM handguards and stick with the IWC mount. That mount is hard to beat, hell, it's probably the cheapest option out there too.