A system for suspending a cab frame relative to a base component of a work vehicle may generally include a sensor assembly coupled between the cab frame and the base component. The sensor assembly may include a sensor coupled to the cab frame and a sensor arm configured to pivot relative to the sensor. The sensor assembly may also include a sensor linkage extending lengthwise between a first end portion and a second end portion. The first end portion of the sensor linkage may be coupled to the sensor arm. Additionally, the second end portion of the sensor linkage may be coupled to the base component such that the second end portion is rotatable relative to the base component about at least two different axes.