Very easy to replace - literally a 10 minute job. It's right up top on the throttle body held on with two screws. The screws are probably torx head, so you might need to get the right size driver.
No adjustment is needed on a 95. On the older pre-92 Jeeps, the mounting holes for the sensor were slotted and you adjusted it by rotating the sensor to get the right voltage before snugging the screws down. Usually just putting the new one in the same position as the old one was close enough. The later sensors, like yours, only mount in one position so not adjustment is even possible.