If bow and arrow are tuned well, fletching is NOT hitting the riser, orientation does not matter.
Proof:
https ://www.youtube.com/watch?v=dX_P2ERkh6s
It is all about tuning, always.
That time I made that video, I was used to shoot cock feather in. But then I got bored to answer questions, why my arrows were oriented wrongly, I shifted back to normal way, cock feather out. There is no difference. But if you want to discuss about arrows with your archery friends, shoot cock feather in...!