Overall wheel compatibility question

Hello to the forum. This is my first post here so if this question does not belong in this part of the forum just let me know. I have a question about using a set of 16" alloys from a 2003 Montero sport on my 1995 Might Max 2WD. I have measured the offsets on both sets of wheels and determined that the Montero wheels have an offset of 150 MM, and the steel stock wheels are 113 MM. If I were to use a 38.1 MM wheel spacer that would be a difference of just under an eighth of an inch (0.118). Assuming that this distance is not a big deal as it relates to the center line of the tire... is there any reason why I can not use the Montero wheels on the pickup??

The appearance of the stock 14" wheels in the wheel openings looks like there is a ton of room for a bigger wheel and tire. I realize that I will need to find the correct Montero lug nuts for the alloy wheels.

Thanks in advance for any help that you can offer!!