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Does changing the rims and tyres affect the speedometer?

I am looking at changing my rims and tyres on a 2017 Ford Ranger Wildtrack. It currently has 18-inch rims and I am thinking on fitting 20-inch rims with 285/50 Nitto tyres.

Does this affect the speedometer or any of the ratios in the transmission?

It will have some affect on the speedo – I estimate about 2 per cent – and it will have an affect on the speeds in each ratio. I would recommend you talk to your tyre retailer to determine that full affect of the change.