I say go ahead
If you're gonna use heat to profile it (oxyacetelyne/oxypropane or plasma cutter) make sure you allow 1-2mm because of decarb which will have to be ground off (at least from the edge)
If it's 5mm thick, then drill & tap for 6mm set screws (6 holes, 3 for each side) & a 10mm hole near the butt for a lanyard (even if you don't want it now & don't drill the scales (handle slabs) you may want to later)
Make sure you do the above first, because the act of heat treating may make it more difficult later.
grind the bevels to within 0.5-1mm of the edge, heat the edge (unless you have a heat treat oven or forge) with an oxy****** torch as you slide it into a water trough (making sure that the edge doesn't get white hot, just a dark yellow/orange, this may take a few attempts to get right)
Test the edge with a blunt file, if it skates, it's hard, Then stick in an oven for an hour at @ 190-200 (or shine the bevel up with a quick grind & the heat the main body of the blade till the edge goes bronze/grey)
Stick the scales on, profile them.
Sharpen, keeping the edge as cool as possible.
& enjoy