I would do 35mm and your outer edge would still be 1/4" shallower than my Speedstars. 45mm tucks further into the wheel well.
To avoid your tires from rubbing against the upper front ball joint stud, you cannot use 225/40R20 size tire or larger. The minimum diameter for this size is about 27.09 inches. That will be too large in diameter and will cause rubbing issues with your front suspension and may cause a blowout prematurely.
Rubbing issues can be expected with any tire having 26.70 inches in diameter or larger. This is up front only. You can go slightly larger for the rear.
You can safely use a 235/35R20 or smaller tire up front without any problem as long as you use the correct offset. The overall diameter for this size is 26.48 inches. Your speed would'nt be far off from the original specs.
The original factory tire is about 26.63 inches in diameter. So, if you were going at 50mph, your speedometer would read a little under 50mph at 49.71mph. That may vary somewhat depending on the tire manufacturer and other factors.
So.. what size tire were you planning on using?