Too many holes
Four, I have a lot of engines and only a few planes so I change engines a lot. If the back side of the firewall is readily accessable I place masking tape over the front and fill the hole from the inside with epoxy, with the fuse standing on end. If I'm a litle about the strength I laminate some 1/16 inch ply over the inside or out side also. The method you're describing looks pretty heavy.