Bullet speed, target speed, same difference: relative velocity's a factor in hitting if we're talking MK108. E.G. firing a prophub 108 at a 262 running away vs. firing it at a brewster flying almost head-on. On those kind of targets where the time window for a shot is smaller (quicker) than the gun's rate of fire, it does matter what speed the bullets are flying.
Which one lands more hits?
1) bullet stream flying at 2mph
2) bullet stream flying at 2000mph
And for the 108, higher speed means denser bullet cloud for target to fly thru, which means higher probability that it'll connect.
In my experience, and that's what we oughta be arguing - not just theory with no practical value - the 108 is slow and decelerates enough that it is a factor you can't neglect in making shots. The running 262's an extreme example, but unless my memory's bad, everyday circumstances are enough for 108 shots that without a doubt are aimed perfectly to not connect because the target flies right thru those gaps. Solution is either firing shallower angles (superposes more of the bullet stream over target as target crosses it), or tracking the target as you shoot - e.g. with a jink like I did in that long-ish 262 snapshot.
If you're firing from pretty far out where the 108 rounds have slowed way down, it's about as bad as it gets and then you've got not just big gaps due to low ROF, but slow bullets that in the most extreme cases you can literally dodge: e.g. when target's flying so fast that it can see bullets limping along and timing out. You see this all the time e.g. when extending in a 262 with a flock of sprayers 1K back.