They are made to be a particular weight, so expect blow holes and other casting faults that may render them as unsuitable material for an application which will subject them to stresses they were never designed to meet.
Of course, common sense must apply and much will depend on dimensions of the disc part of any such wheel, the anticipated rotational speed and other such factors. A small model wheel that will do minimal damage if it ruptures is one thing, something larger or harder pressed in service is rather different.
For a critical application, I strongly recommend using offcuts of continuously cast bar that should be free of such casting faults.
I am reminded of an old course on industrial X ray inspection held at the Welding Institute. Various examples of faults were shown to the students to comment on the component acceptability for use. One such item was riddled with blow holes, cracks and unfused material, to be soundly condemned by all the students except one who asked what it was to be used for. It was a paper weight!
Brian