There are 2 schools of thought, those who feed in until it tracks properly & those who calculate diameters (for circular pitch wheels). Most us hobbyists knurl for functionality & while feeding in until a proper looking formed knurl works for most, it only works on softer metals like aluminum, brass, mild steel, etc.
If you're knurling harder alloys, SS, Ti, etc, materials that are harder to displace and/or work hardens easily, you're better off calculating unless you don't care about double tracking. Feeding in arbitrarily also won't work for cut knurlers.
If you're using diametral pitch wheels then those are meant to work with fractional size diameters (32nds, 64ths),
no calculations needed (well minimal).
Me I'm just a hobbyist but I knurl for cosmetics & functionality. For me double track knurling annoys the hell out of me, I'll scrap the part if it happens to me.
LMS has a simple calculator for calculating diameters for knurls. There are other formulas but the LMS calculator works fine for me. My lil brother added it to a simple app for my phone for quick & easy use.
This knurling calculator finds the next smaller diameter from the diameter of your work piece.
littlemachineshop.com