Theory states that the closer the one-way valve is to the crankcase, the better it would function.
However, if oil gets burped thru the valve from being very close to the engine, and then there is a standpipe arrangement after it, then the oil can't get back to the engine.
So, I'd say to split the difference, and route the hose up high as a standpipe right behind the engine, and then put the one-way valve up there, and then lead the exit out the back of the bike or wherever you want to. Or you could put the one way valve at the catch can, like the factory does with the duckbill.
Sometimes a general compromise of things works out most conveniently. You don't always have to follow ideal theory in every application, because not all applications lend themselves to ideal theory.