As I'm writing this I'm still having problems with just getting the Pilot Simulation program! Yuneec USA now sells the dongles but doesn't yet have any USA links for the simulation program, it is from the yuneec.de site. I'd called Yuneec US last Thursday and while they tried to help it still isn't workable on my Windows computer. So I didn't know there is a Geo fence in the simulator program, no one has mentioned that in any of the posts I've seen by people using the simulator on the Facebook Q500 forums.
To the above posts, I do know many distance settings, horizontal and vertical can be modified by the Yuneec GUI program you get from the Yuneec website, it actually is a must have program as it does more than just update the Firmware.
I don't think the personal Geo fence of so many feet/yards around you can be changed but if you takeoff in "Angle Mode" the personal Geo fence does not apply. It is only in "Smart Mode" that the features like "watch me", "follow me" and the protective Geo fence are in use.