... I am running a Thermo-bob 3 and 190* stat w/ a full SXS engine cover and I've STILL got motor temp issues.
By the way, I ran the SXS cover on my KTM 525 along with my home-made radiator guards and stock KTM thermostat and my temps were mostly fine. No foam between guard and engine. No shield at the back of the engine. And I had a wrapped pipe (which might have allowed less heat rather than more, but may have also avoided the steam flowing back and freezing on the carb and other bits). I also had an oversized gas tank on the bike so that hung lower than a stock tank which protected the engine and carb a bit more than the stock tank. And I did not run radiator shrouds. Just radiator guards and hung the radiator covers on the outside of the radiator guards.
Change one thing at a time and test but I think you'll find a major benefit in covering those radiators.
I made my radiator guards out of plastic (see my post further up for the material thread to which I linked). I intentionally had them hang on the outside (leading surface) of the radiator guard rather than inside (between the radiator guard and radiator) because I didn't like the way the radiator guard would get totally caked with snow and restrict flow if I needed it for a long trail ride back on a warmer day. But hanging it between would likely be nearly as good.
The alternative that I like the ideal of is a fabric cover with elastic. Really fast off and on and easier to store (keep in mind, with the hard plastic covers, you'll need to store them someplace when they are off. So in your backpack or tunnel bag). They make prefilter material ones that look slick. They would block all the power from hitting and cooling though they would still flow some air. I think the powder is what really cools off the radiators and not the air, so they might be worth a try. Or make a homemade set out of some type of material that snow won't stick to but also won't melt at radiator temps. Would be easy to make. Shape your fabric and sew in elastic. Really fast off and on and storage. (shove them in a plastic bag, before putting them in your pack, if they are a little snow and ice covered).
I don't have any photos handy of the covers on the bike, but here is a picture of them, an the SXS shroud, not on the bike. I cut them about 2 or 3" taller than I needed and then used a heat gun to fold over the top 2 - 3". It was as tight of a fold as I could get it and then, to install, I'd just slide that tab down between the radiator guard and radiator. While it sounds like they would easily come off, they never did nor came close. They sat in there really well. If anyone is interested, I can take more pictures, in the next week or so, of them installed and from various angles since the below doesn't really show the angles good.