I do not load for the 500, The closest is 44 Mag. I do use a lot of HP 38 and also in 45 Colt That load that you linked to would be pretty pathetic. You could probably watch the bullet leave the barrel and fall to the ground.
You can use load data for the next higher weight bullet and gain more velocity but not the other way around which you are suggesting.
If it was me, I would use a different powder,Unique is probably the mildest load based on Lymans Manual
There are plenty of recipes.
Cartridge Loads - Hodgdon Reloading Data Center - data.hodgdon.com