OK--now I'll give you the method I'd use today---------get an whell adapter /spacer plate for the 4.5/4.75 -----use it as a guide plate and set up with one hole with a drill bushing for the pilot hole and another for a bigger, then another for finish size--------just bolt in place, drill one pilot hole, rotate to next position drill bigger hole plus pilot hole in next position, rotate again and pilot hole, bigger hole, And finish size--rotate another position and go again--------

I would suggest the hole being a little undersize so you could use a reamer to finish size.