I can see the change. The leaner you get the smaller the amount of fat that you need to lose to see a noticeable difference. But yes, calipers will work too.
If you were losing fat at 125 grams I don’t think that you will have much difficulty losing at 40 grams. Also, if you are training a lot, 40 should be fine for ketosis as well. Honestly, if you’ve lost a bunch of weight lately you’ve been in ketosis a fair bit anyhow. You can’t be burning body fat without producing ketones.
Had your last diet stalled out? Why are you switching?