Brush hog size should be based on engine/PTO power, less so on wheel width. The 'rule of thumb' I've been told is 5hp at the PTO per foot of width.
My JD 3005 is rated 27hp engine, 24hp PTO, and runs the 5' brush hog reasonable well, but definitely slows down when the grass is thick. Being a gear drive model, the tiny powerplant is able to send more HP to the PTO. Hydrostatic drive uses more hp to move the tractor, leaving less available for PTO powered implements. If mine was hydro, I'd not be able to run the brush hog as well.
I made and installed spacers myself, many years ago. The majority of the rear tires is outside the cut swath, which mashes down the grass/weeds, but for the extra side hill stability, I'll take that compromise. I tend to mow in a clockwise pattern, which tends to allow the brush hog blades counterclockwise rotation to better pick up and cut the previous swath's smashed down grass, as the left side of the mower is now over where the right side tire ran on the last pass. Still get some streaking, but not bad. It's a brush hog in a pasture, not a finish mower on the front yard.