To answer the original question, yep you can swage .223" bullets to .222". I have sized down some .323" bullets to .318" to fit an Enfield I have. I used a "custom" Lee push through die and lubed the bullets with STP. It was a job, but I wanted to handload some jacketed bullets for my rifle. with a .318" groove diameter and could not find any commercially.

FWIW; I believe the bullets for 5.45x39 (AK 74) is .221"...