Using lower Octane rated fuel than prescribed by OEM on high compression engine ex: Sportsbikes will cause knocking issues. Knocking is self combustion before actual required combustion by spark plug. It can overheat engine, high pressure issue: bad for caskets, other engine components. This can be surely reason to lose power.
Fault Code: P2195 (on MT-10 Gen-1 and i guess should be same on Gen-2)
Reason: O2 Sensor 1: Open Circuit Detected.
With this code you can still start the engine, you can still be able to drive motorcycle.
You mentioned bike has decat & SC project slip on, are you still using OEM O2 Sensors (close loop)?
Did you tune your ECU and eliminated O2 sensor feedback in programming?
If not, Code P2195 can be issue with O2 Sensor 1 itself, its coupler, wire harness, connection to ECU or worst case ECU itself.
Code P2195 can also be caused by fuel pressure. Check fuel line pressure with Pressure gauge and adaptor at fuel rail side. Fuel Line pressure 43.5-56.6 psi at idle.
I would say start with easy things, drain complete fuel, burn lower octane remaining at idling. Fill proper octane fuel. Reset any code preset at ECU and try. If not follow other methods.