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would 7075 bar be suitable for this application?
Yes, for a solo 7075T6 is plenty strong enough. The tandem one is steel, but the Boost conversion on my 464 is 7075T6
Plenty of boutique road rear hubs use 15mm 7075T6 axles, and converting a 15mm through bolt front hub you already have the bearing support tube doing the heavy lifting. I'd be pretty confident in a 6082T6 adapter made to that drawing, the 464 one is a different design with thinner walls.
For something that simple, you can sketch it with a Sharpie® on the back of a fag packet. I think I paid the machinist £40 for the axle + spacers, using my own material, and the bolts were about 50p from the local shop.
You can either leave the spacers loose or spec the ID to give an interference fit on the axle, according to preference. The hub gets squeezed between the spacers when you tighten the bolts, which is why the axle needs to be a smidge under 120mm.