Periscope dryer vent in exterior wall
This vent should not interfere with standard insulation. If you have to remove some of the insulation to fit it in make up for it by adding insulation to the vent. Wrapping the vent pipe with insulation is a good idea. So the air remains warm until it exits the house. This reduces the chance of the water condensing inside your house or dryer vent. Attach insulation with foil based duct tape and caulk where pipe exits the house.