I realy enjoy this thread. Although I don't restore vehicules that are as old as the Denis, I do all my own mechanical work, including inventing machines for theatre and television. I have a project vehicle, a mear flegling of an '83 hilux that's going to be my retirement car!
I am surprised that you don't have a shaper, square holes, tapered square holes, inside gears, inside splines and making things flat using simple HSS tooling.
My suggestion is to drill a straight hole to start with, if your wheel will fit in your lathe, bore a taper hole, with the diameter the same size as the square. I would be inclined to cut to the corners radially from the middle. depending on the diameter, it may be possible to saw triangular sections to eliminate metal. Having the final slope allready cut with a hacksaw will make it easier to file out to the square conical shape. The steering column and some "blue" would help to get things right.
Regards, Matthew