If the taper bottoms out on the hub, it is bad. The lugnuts will be tight, but not proper clamping load on the rim. Typically an issue on steel wheels and not so on aluminum.
Then I start looking at the contact patch between the lug and the wheel. I have seen some lugnuts that have a huge tapered seat. Some are nearly nothing. A small hex lugnut that has just a chamfer (not a bulge at the seat) would get sketchy real fast.
So, maybe. Could be a total disaster, or completely safe.