At 300-400 yards that extra 2" isn't going to be noticed. I am not going to stop you from getting the 20" or say you are making a mistake, because both barrels are nice barrels and will serve you well. But I imagine it would probably be hard to even notice much of a difference with a 16" over 20" at that range. The 18"s just don't loose that much velocity from the 20" and you wouldn't notice any more difference between the 2 then you would switching to a different brand/load of ammo. Also the 20" is not more accurate then an 18" - that is a myth that most people believe. A shorter barrel is not less accurate then a longer barrel - and often the shorter barrel is more accurate due to stability/rigidness. The less a barrel can flex, the more accurate it can be and you will often hear the term barrel whip. So a long skinny barrel is going to be less accurate then a short thick barrel on average. With having 2 barrels of the same heavy weight profile that are identical just different lengths it is doubtful you would ever be able to tell the difference even in a group size of 10 barrels from each. But if there was a difference, the nod should go to the shorter barrels.
The thing that makes a longer barrel nice for shooting longer ranges isn't the accuracy it is the velocity. The more velocity you have, the less bullet drop and wind drift you have to worry about. And at very long ranges the extra velocity will keep your bullet supersonic for a longer distance meaning it will stay stabilized for a little bit longer. How much depends on the barrel length in question and what ammo will be used. In this case the difference in a 18 and 20 is almost nonexistent especially at 300-400 yards. At 500-600 you may notice a slight difference but even then it would be hard to notice. With the lightweight bullets you gain about 75ish fps and if I had to guess with the heavier 75-77 grn bullets that would likely be used you would probably see a lot less difference maybe 50fps or even less.