Are you asking if it's possible? Your going to not only have a large amount of material removed from the block, you'll also need custom made caps to secure the crank. I'm assuming you want to keep the '92-'96 closed deck block and use the '97+ larger crank (I acutally wasn't aware they were different but I don't have much experience with H-series engines). You'll probably find yourself in much safer waters by resleeving a '97+ block and converting it to a closed deck design. At least I know that's been done successfully before and is very strong.

I'm aware of align honing, but I'm not sure if I've heard of anyone boring that space out, at least not 5mm worth of material away. You actually don't hear that much about align honing with Honda, or any import blocks. I think the best place to find your answers would be a local engine shop or a larger Honda/import specific shop you would trust to do the work, they would know a lot more than I would.