Did some research on this, as my IW885 was set at 350, but reporting 300ish on the grates. More accurate at lower temps. After placing one of my aftermarket probes as close as possible to the RTD, discovered, that when at 350, temp was no only off 5-10 degrees. IMO, it's a combination of the short RTD, and what appears to be a hot wall of air blasting up the side of my grill. Assuming it gets worse at high temps due to the fan speed being increased. So it's accurate, but appears to be bad placement.
Would assume it is impossible to have an "accurate" reading across the entire grill. I've noticed the left side is also much hotter, probably cause of the grease chute and the air flow there.
I'll just be adjusting temp as needed using an aftermarket probe near where my food is cooking. Remember, there will be hot and cool zones throughout the grill. Just need to learn how to use them!