If it’s anything like the wetsuit I’ve got, it’s not encumbering at all, there’s really nothing loose to get in the way. That’s the whole point of the material choice.
Really, the most accurate way to depict neoprene would be to give it nice bash protection but be especially vulnerable to slashing/cutting. I am speaking as someone who can’t even remember how item protection values work, but yeah. Six seems like a bit much unless it’s a material that is very easy to destroy.
(I’ve had to fix a tear on said wetsuit before - you use a particular type of glue to repair it and cross your fingers. Not even really tailoring, and thus trickier. Neoprene items aren’t listed as any type of material tailoring can repair right now, right?)