I did a job for a customer some years ago making arbor shims for a wafer dicing saw. these were made from from stainless steel sheet of various thicknesses. What I did from memory, was to pressure turn the OD of the blanks then drop them in the lathe mounted fixture to machine the bore, photos attached. If I remember correctly they had a pretty tight tolerance on the bore. As you can see I kept the fixture just in case, but they never requested any more.
Dave