Marvel never had a problem throwing obscure comic characters on mid credit scene,
so may be the cameo would have to be on mid credit scene.
They were not above throwing in obscure characters as long as they're Marvel characters. I'd be lying if I said I never heard of the Collector before (or Howard the Duck for that matter) but I understand how obscure they are that most of the modern audience won't know them, but the very-very least they are Marvel Comic characters.
In the video game AfterBurner, we see the aircraft carrier, we see the planes and that's about it. Later games perhaps show the marines on the aircraft carriers or the pilots in the plane but they're just generic fighter jet pilots in full uniform, no names or faces.
Because of this, it would make it too obscure, or the very least difficult to reference in Sonic 3 or any other Sega movie produced by Paramount.
If they had a scene set on one of GUNs aircraft carrier, or at least Metal Harbor, then that would be an opportunity for an AfterBurner reference. But given how generic both the game and the scene would be how will AfterBurner be noticed and not just GUN with it's own Navy fleet?
The only way I can imagine that happening is Tom Cruise plays as a fighter pilot in similar to LT. Pete Michell only when asked for his callsign he goes by "After Burner". And then we see him in action while cinematic rendition of the
After Burner theme plays.
That way Top Gun fans will know his presence is a Top Gun reference, but Tom cruise plays the role of a character unique to the Sega Cinematic Universe under the callsign "AfterBurner" who just so happen to heavily reference Maverick.