In an ideal world, you want about 6mm sapwood all over. It's only there as a safety net to stop the bow pulling apart. Too much sapwood (apparently) will give you a slightly softer, slower cast.
However, it's wood, and you can never go by numbers. You'll end up with some areas thicker and some thinner which is fine too. I would definitely take it down all over if it's even on both sides. Rough it out to about 8mm, work the belly taper some more and gauge how it's looking. If it needs more sapwood removed to maintain a good ratio then you can tidy it up in stages.
Is it Pacific yew? If it is, and you're looking for a drawweight over 80# or so (warbow weight) you really want to be keeping a single ring on the back. Lower weight and the odd run off or island is fine. Tapering the sapwood is risky, as you can't avoid having areas that violate the growth rings horizontally across the back which is fairly bad news in general. If you can get the whole lot down to between 4 and 8mm then aim to do so.