I will attempt to answer your question. The glucose sensor systems on the market all use an electrochemical sensor. In order to work, the the sensor must be poised at a specific potential. At the potential they currently poise them the sensor will “see” the glucose signal and the interferent (acetaminophen) signal at the same time. So, the acetaminophen current will be added to the glucose signal thereby rendering the data ineffective for the time the interferant is present. In practice, you will see an artificially high bg during the time the acetaminophen is active in your system.
Interferents that you run into in daily life include Ibuprofen and ascorbic acid.
As @docslotnick said, if you need the meds, take them, and ignore your CGM during this time and rely on meter readings instead.