Keep thinking about it, for what it is worth…
If you could find something to squeeze the sides of the chrome cap so that they rest against the inner piece and try to turn it… like a large vice grip.
Te investment for removing surrounding parts, such as bumper, lamp, maybe register plates lamp trim may really be worth considering.
I would make sure, as 49er is suggesting, before any drilling, to check if surrounding parts removal is not opening opportunities to use some other opening method than destruction.
If you have original key to use with the cap, the tumbler is the part to protect, more than a chrome cap.
Sorry if I am saying obvious things…