Plus you have the potential for the undersize bolt to damage the threads in the frame should the nut work loose, also if you're as OCD as me the potential for tightening the nut to damage the paint on the other side of the frame.To be fair, a single bolt that fits the threaded hole will not protrude inboard of the frame and present potential clearance issues like a nut would.
No-brainer just to source the correct fixing IMO; providing the correct spec can be identified and sourced.