Not Ranked
I don't think drilling a small hole in the wheel will hurt it, but having an interruption (bubble) in the 'twist' of the safety wire is not wise. The 'twist' strengthens the wire more than twofold, and movement back and forth of the spinner can flex and ultimately break the wire in the weakened area.
I also think generous use of the lead hammer will keep the knock-off from loosening.
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