The problem with the "Keep it Simple" approach above is you need to drill into your very expensive CVO's fender to do this. Something a lot of people, myself included, have a problem doing.

Kuryakyn apparently decided to position the plate below the hole in the fender because they thought the plate looked better down lower. Guess they failed to notice the ugly hunk of chrome they had to place above the plate to accomplish this aesthetically pleasing location.

This is why I have manufactured my own back plate that positions the frame high enough up to cover the hole and still uses the factory mounting holes already in the fender, so no drilling is required. Since my bike came in late last year and went right into storage after the 1,000 mile service I have not mounted the new frame yet.
Here is a pic of the back plate I manufactured out of 1/8" stainless steel. The 2 fender mounting holes are countersunk so after the back plate is mounted to the fender the screws will not stick up and interfere with the license plate. The 4 holes in the corners are tapped to allow screwing the Kuryakyn frame directly to it.
I just need to wait until I get my bike out of storage so I can decide what thickness spacers I need to keep the back plate and frame from touching the fender. Then I can put it all together and get some final pics to share.