You might be better going with straight R8 collets than a collet chuck. Just buy the sizes you need, say 1/4, 3/8 and 1/2. https://www.busybeetools.com/products/collet-1-2in-r8.html
These use up less vertical space and being shorter they're more ridged.
Update on this, for future googlers. The 3/8 4-flute roughing endmill will take 0.125cm horizontal facing cuts in mild steel quite nicely (using motor oil as lubricant/coolant) - feed rate of "slow" and spindle RPM of "just past half".
At the same feed/spindle speeds, I can take ~3/8" deep vertical facing cuts of 0.050cm without issue, although you'd definitely want a cleanup pass with a normal endmill (not awful finish, but for sure needs a cleanup pass).
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