Actually logically if you zero a scope for 200m and shoot anything less then 200m it should shoot high and over 200m it should shoot low going on how ballistics and bullet drop actually work... HOWEVER, this is based off effective range...
Ie: if a 7.62 rifle bullet drop starts at 200m + then 0-200m would be the same, but after 200m you would need to zero up... where as 9mm likely has an effective range of ~100m which would mean at 0-100 zeroing would be close to the same and after 100m you'd need to zero up, but if its zero'd for 200m, then anything under 200m would have less bullet drop then what its zero'd for, therefor making the bullet go higher then the reticle (this is proven by putting a ARCO on a sting)
So - to me, this sounds like a glitch in arma3's zeroing in 3rd person
So TLDR:
If bullet drop starts at 100m and the scope it zero'd for 200m then less then 200m should fire high, more then 200m should fire low.