I don't know enough to advise with certainty but I believe it's not a good idea to run an outlet of a smaller diameter than the pump is made for.
I cut in the larger return and it's actually more comforting than cutting in the skimmer. The are you'll be cutting is reinforced and what will remain is still enough reinforcement to sleep peacefully at night. The "bowl on the inside" trick works great too so you don't have to worry about draining your pool down.
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