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People disagree on this. I would caution you not to try it. Wheel studs never take any side/bending loads in a proper fitment, and they aren't designed to. They only take loads in tension. 0.65mm doesn't sound like much, but when you force each stud to deflect that much over maybe half an inch of length, it will put big stresses on the studs that they weren't designed to take. Also, if they aren't truly hubcentric, then the wheel will get pulled off center by that same amount when you tighten the first lug nut, and it's extremely unlikely that you'll find a wheel that's truly hubcentric to a C4 if it has a 5x120 bolt pattern.
What you could do, if you must, is use wobble nuts instead of regular lug nuts. They can "soak up" the 0.65mm difference with no trouble. However, if you use those then you really have to have true hubcentricity or else you'll never get each wheel centered on the hub. Again, I don't think you'll find 5x120 wheels that are perfectly hubcentric to a C4's hub pilot of 70.3mm.
There are loads of Camaros and Trans Ams running 5x120 wheels and lots of BMWs running Corvette wheels, i have never heard of anyone having any issues with it. But make sure you use hub Centric Rings if the wheel has a larger hub. https://ls1tech.com/forums/wheels-ti...s-pics-11.html