You need to raise both sights. Let me start by saying, I don’t have a good answer on how to do that! But here are a few notes that may help clarify what you’re looking for.
You describe the gun as a “300S Universal,” but it sounds like you have the standard “Match” model to me. The true U had an adjustable-height cheekpiece, and a dovetail-mounted front sight. Most U’s were supplied with two different cheek pieces (low and high), two different front sights (short and tall), and a removable riser for the rear sight.
The front sight on most 300S’s is not fixed, but held on by a stout round pin with a tapered side. If you look closely at each end of the pin, you will see a small gap underneath it on the right side of the gun. Tap on that end, the pin will come out easily, and you can pull the sight off (be sure to turn the pin’s tapered side the same way when re-installing, or the sight will have a serious “lean” to it!). Unfortunately, I don’t know of a taller sight made with this mount.
The 300S actually has a rather skinny 15mm diameter barrel, but most of them have a full-length sleeve weight epoxied into place. The sleeve is fatter at the muzzle end which gives the appearance of a separate weight. It cannot be removed short of heating the whole barrel enough to break the bond of the epoxy (not something THiS old guy is gonna try any time soon, LOL).
As you have discovered, FWB sights do not have the standard 11mm dovetail width, but are about 11.5mm wide (which is VERY frequently mis-stated by people selling sights!). You will have to get an original Feinwerkbau rear sight riser.
So the expensive solution might be to find yourself a real “Universal?” Maybe using the high sights with the low cheekpiece would to the trick. A more practical path, though, may be it find a machinist to convert your front sight to something like those in marflow’s nifty link, and buy the correct riser for the rear sight.