Wheel Backspacing for my 98 Chevy Z71?

I got a set of tires and American Racing wheels for my 1998 Z71 4 Wheel Drive. The backspacing on my stock wheels are 5.5" and my tire size is 265/75R16. The American Racing wheels have a backspacing of only 4.5" and the same tire size 265/75R16. Now if I put these wheels on my Z71 they will stick out... show more I got a set of tires and American Racing wheels for my 1998 Z71 4 Wheel Drive. The backspacing on my stock wheels are 5.5" and my tire size is 265/75R16. The American Racing wheels have a backspacing of only 4.5" and the same tire size 265/75R16. Now if I put these wheels on my Z71 they will stick out past the fenders. Now I know that if I am carrying a heave load I may bottom the tires on the fenders.
The question...Is it bad for anything on the suspension or wheel hub assemblies?
Is it safe to have the wheels sticking out like that?
I see lots of trucks with the wheels sticking out past the fenders but I do not know if it is the same situation.
I just do not want to hurt the truck and end up spend a lot of money on repairs to the wheel hubs or anything else.
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