There are lots of reasons sex drives slow down. Are you sure hers has slowed down or that’s just a reason she is giving you that may be hiding something else?
Would you say that you have a great marriage and that opening up would make it better?
It sounds like you’re looking to be swingers and you want to explore a bit of a cuckold fetish you have more so than just cuckolding.
I don’t know your wife but many women whose husbands confront them about an open marriage that can be linked in their minds back to their lower sex drive might find that worrisome or threatening. The manner of your approach and the understanding of your goals will be very important. High levels of communication are important in this situation more than normal.