the whole reason of doing 5 lug is to get a better range of wheels with better offsets and/or bigger brakes. when you stay 4 lug you need to usually put a big spacer to make the wheels flush.

so if you get that 4 to 5 lug converter your going to have spaced 5 lug hubs and that'll mean you'll need to order wheels with an offset to bring them back under the fender so that will mean no big lips unless you want a mad tyte baller offset where you need wide fenders.

on the safety note, ive heard bolt on spacers are dangerous but personally when i ran a 10mm spacer with extended lugs i had no problems