Air cooled hoods are more critical with lower wattage bulbs because of their decreased casting distance.
The same 140,000 lumen bulb would have up to 36 inches before the lumen level dips below 5,000 and you start seeing really decreased growth. So long as your entire plant (or the important parts at the least) are in that 10 inches to 36 inches window then you're going to be in good shape.
I'm not saying put your bulb 36 inches above. If you have 2 foot tall plants you could concentrate on the upper foot of them by keeping the light about 20" above the canopy. As with any light, and it almost goes without saying but... The closer you can get it the better. The money spent on a hood and a cooling system is necessary to really make full use of that lamp and its energy when it comes to harvest time.