Viper Staking has a very informative blog post about how many slots a stake pool can expect, given the amount of stake it has, and the decreased significance of stake pool latency on the Shelley Mainnet compared to the Incentivized Testnet (ITN).
To put simply, a stake pool can expect to be assigned slots to generate blocks and earn rewards with more stake it has. How many slots it can be assigned is capped by the stake saturation point.
It is possible for a stake pool to miss generating a block, and hence miss earning rewards. On the ITN, missing a block was mitigated by centralizing the location of nodes to achieve a lower latency. However, on the Shelley Mainnet, the time window to generate a block is longer and any potential conflicts between stake pools generating a block at the same time are resolved randomly. So, a stake pool's latency to other nodes in the Shelley Mainnet network should have less significance.
For more details, I encourage you to read Viper Staking's post.