I have known it to be done, for example on small single motorcycle cylinders, on a decent vertical mill though.
That was a setup that a well-qualified old mate put together some years ago, for a trailbike rides operation.
The most critical bit was the precision adjustable boring head he used, which wasn't cheap. Certainly not worthwhile for doing only one or two!
Another alternative [to rebore/hone out to oversize] traditionally used for Briggs engines with up to 0.005" bore wear was to fit a 'chrome ring set', with a 3-piece oil control ring. Briggs has obsoleted the chrome rings [P/No 392331] for Mark's engine, but they are still available aftermarket, through GA Spares and Stens/Bynorm.
Bruce has them listed in the
ODK Online Store here.
While a bit of a 'patch-up', these rings do usually work to extend the engine service life a bit.
As grumpy says, imperfect air filtering is the most common cause of this problem. The old all-foam Briggs filters were particularly bad if they weren't serviced - once the foam was clogged, the engine would run very rich, which greatly accelerated the bore wear.