Grinding wheel runout

Bought a Woodcraft 8 inch low speed bench grinder for sharpening purposes. Comes with 60 & 120 grit white/friable wheels. 1st thing I notice is the right (fine) wheel has what seems like quite a bit of edge runout (wobble) on the broad side face of the wheel, about 3/64” from the look of it. Tried taking the wheel off & checking the arbor, the arbor seems true. Remounting/retightening the wheel made no difference. Since the wheel is not thinner at the low spot, this means the grinding surface is also oscillating back and forth by the same amount. It’s as though the wheel has a slight “bow” in it, or (more likely) the center hole is not 90 degrees to the face. Laying the wheel on the cast TS tops seems to indicate it’s flat enough, so I’m guessing it’s the hole which is off. Is this an acceptable amount of runout, and will it cause any difficulties during sharpening? The coarse wheel is much flatter.