Fully appreciate you not trying to pick an argument but would you agree that Usain Bolt would have to receive a nighthood if Mo does ?
How does it work with someone like Bolt? Is Jamaica part of the Commonwealth? I don't actually think Mo Farah should be knighted, but there is precedent with the likes of Redgrave, Pinsent, Wiggins and Hoy - but that presents another question - are their achievements greater than Farah's, making them deserving of a knighthood?
To go back to your original question - if Farah was to be knighted then of course Bolt should (if it's possible) as I don't think anyone will beat what he has done