Such work may be done several ways, facing it with a smaller diameter tool will leave tooling marks that many find objectionable, doing it very slowly with a large enough tool will not.
History tells us that the prefered method is to rough mill it then grind to finished size and surface finish. If I would have recommended this method many would have remarked that many home shops do not have the equipment for this and sending the part to a grinding shop would be costly.
My point being that if you do not try it you will not know if it can be done, the worst that can happen is that you scrap the first one. If it were customer supplied material and you can not easily replace one part then by all means go the traditional route that will surely work.
If a hobby project stretch your legs and have at it and see if it works, if no one tried a different approach to a problem you would be riding a horse to work everyday