Yes, it’ll move, but as Knothead says, not if you have everything assembled and adjusted, you won’t see the rod, you’ll see the clutch spring flex in and out.
Dumb Q, but: Did you remember that the clutch lever and the inline cable length adjuster need to be tended to? On a couple of occasions I’ve managed to get something jammed in the ball ramp (I think) and get zero movement of my clutch lever. Very tight lever with no movement of the clutch spring. When that When that happens, I remove the belt guard unit, check the rod, then reassemble. Worked for me. If your lever seems ok, then it’s something else.
If you didn’t loosen those two adjusters (lever and inline) first thing, do it now, then adjust the rod, then adjust the inline and the lever. It won’t work right until everything is in place. Then the only visible movement is a slight flexing outward of the disc spring.