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I am not aware of any 120mm splined freehub rim brake hubs.
I don't like the idea of freewheels and threaded track hubs as I would need to change cogs in muddy conditions. Splined ss kits are much more hassle free.
I am not removing anything from the hub that can cause death. I am just going to shorten the axle by 15mm and see if I can modify or buy new end caps.As for the bolts @BareNecessities and @psg1ben I haven't decide how I am going to use the hub yet. But one thought is to bore out the end caps and use a 10mm through axle instead of a qr. I have just gone through a cx season using shimano cam qrs and I have had zero slippage
Rather than messing around with a hub and potentially hurting yourself, why not buy something fit for purpose?