+1 for Jasons fix. I’d make the step a bit longer with a shallow slope at the entry. Getting a shallow saw on dead straight onto a barely wider step will be challenging. Almost certain to want to wiggle.
However my commercial one bought from ArcEurotrade “not telling you how many years ago” isn’t perfectly on size either.
But neither are the saws themselves.
One is sufficiently tight that I seriously doubt that it would go on a dead nuts holder. The others go from a tage slack to a couple of tages slack if you see what I mean. I did measure the diameter when I first noticed the differences but exactly what the error was I no longer recall. I want to say around 5 thou, anything seriously more and I’d most likely been on the phone “OK I know economy range won’t be dead nuts but this is going a bit far.”.
So mine is a bit better than yours but same ballpark.
Slitting saws aren’t a commonly used tool for me but I don’t recall ever having issues attributable to a slack fit. Important thing is to get the workpiece set up nicely with appropriate feeds and speeds dialled in. For some reason my instinct has always been to want to run them too fast. So I always check the numbers. Lubrication really helps.
0.25 mm / 10 thou difference in cut as the saw goes round will make no noticeable difference unless the operating settings are way, way out.
Clive