You bought a magnaflow which is like buying a 50% efficiency oil filter. Great flow, but the media doesn't filter (burn off) much exhaust gas. Nothing wrong with the cat you bought, simply does not match the catalyst efficiency threshold of the car's ecu.
The rear o2 sensor does nothing but gather post cat exhaust stats that determine whether to trip the P0420 catalyst efficiency code. By replacing the rear o2 you will make it more sensitive, more likely to trip a P0420, so leave the rear o2 sensor fouled. I covered mine up with a $6 spark plug non-fouler. Plenty of diy's out there to follow. I also have a few threads on here regarding it.
The front o2 is dual role, gathering pre-cat exhausts stats and also adjusting the air fuel trim which could effect the gas mileage if it was to get lazy. Denso o2 sensors have dropped substantially, use them. Go to the denso site and get the exact o2 number. Then you should be able to find on amazon, rockauto, etc. Don't use the universal Bosch, etc. Too important a part.
Resetting/clearing the CEL will only make it go away until (X) number of driving cycle stats have been gathered, comes back on in a day or so.
Could a lazy front/pre-cat o2 sensor flood the cat with unburnt fuel overloading the media tripping a P0420? possible. A 1/10 possibility.
So...Replace the front o2, use the non-fouler over the rear o2. Leave the magnaflo, should still be ok. That should do it.
Also..are you burning a ton of oil? Usually the core issue.