Problem with that is, most likely the AI would just never be able to take the mission. Players have to plan things out, get colonies in the right places, and ask for naval access here and there in order to make the mission work. The AI can't really plan that much, so unless you have a Spain or Portugal that controls literally half the world, the AI would just never have the ability to circumnavigate. A hard limit of dip 22 would mean that they'll do it late, but at least they'll get around to it eventually.For circumnavigation the answer is VERY simple and minimal work: have the AI calculate what attrition it WOULD be taking, and if it takes enough to sink the expedition, it fails... but all the ships go home safe and sound. The AI does not attempt to circumnavigate again until it increases its tech.
I would really like it if the player gained some control over the explorer for this mission, or at least if the auto-explorer were less stupid. They really should dock and wait to repair when they're damaged and reach a friendly port. The complete lack of control here really inflates the difficulty of the mission; I can circumnavigate the world manually way earlier than I can via mission.