I wouldn’t do that. if you do the holes will be very close to the flange on the axle. Plus if you want Cragar’s etc.. the 1/2 mag nut won’t fit in the bore hole of the wheel. Ie: standard 1/2 mag nuts have a .68 shank thickness and the 7/16 nut has a shank thickness of .61 inch. You won’t fit the shank of the 1/2 nut into the wheel