Yes wrong bike for that kind of build.
Sure, I bet you've hit 40 mph going downhill on it and it felt fine. Now go strap 30 pounds of batteries and 20 pounds of motor on it, and try it again. You won't like the handling at 40 mph now!!!
It would be a good bike to motorize for different expectations, 10 pounds of motor and 8 pounds of battery, and not always using the motor for example. Top speed perhaps 30 mph.
Full suspension isn't mandatory for 40 mph, but it sure is advisable when you can't swerve around that pohole or manhole cover in time going that fast. My race bike is pretty sketchy if I street ride it with all the road defects.
Less motor could work for you, depending on the durations of the 40 mph riding. The crystalyte HS model would cruise at 30 mph nearly indefinitely on the flat, and should hit 40 mph or more on 72v. For 30 miles range AT 30 mph, you'd need about 20-25 ah of battery.
As for overheating and mechanical problems, well, asking for motorcycle performance from bicycles is at the very least asking for spoke and rim problems. But 30 mph cruise doesn't usually overheat a decent direct drive motor. The smaller dd's like 9 continent and similar other brands can take 40 mph for limited durations. So as long as you don't want 15 miles at 40 mph you generally are ok. But they do heat up fast with even short runs at 40mph. Properly done vent holes in the cover help a lot, so the heat doesn't stay trapped inside.
And since I always say this, in the USA most states would call your proposed bike illegal to ride on the street. Illegal as in faster than 20 mph is one thing, illegal as in noticeable as hell going 40 mph is another. I take my race bike out on the street, and everybody I see is doing this

when they see me.